Low-cost hydrogen cell startup Protonas bags funding in round led by Transition VC
Protonas, a startup specialising in low-cost polymer electrolyte membrane (PEM) hydrogen fuel cell solutions, has secured an undisclosed amount of funding in a round led by Transition VC.
The funds will be used to set up initial manufacturing operations in Chennai and develop prototype systems. The company, based in Tennessee, USA, has a subsidiary in Chennai.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisit“We will use the funding to set up tooling for manufacturing and purchase the necessary equipment to establish our assembly line to build fuel cells. We will also use some funds to develop working prototypes for various applications that we have,” said founder David DeVries.
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The company aims to deploy its solutions to offer cost-effective backup power applications in the North American markets. Additionally, it aims to power fuel cell engines for three-wheeler transportation and four-wheeler delivery applications in India and other Asian markets.
«Hydrogen fuel cells have far fewer moving parts compared to internal combustion engines, making them simpler and easier to maintain. We see that as a nice solution for long-lasting vehicles,” he said.
“If hydrogen is used as a transportation solution, it has the potential to reduce pollution in larger cities. I believe that as we move forward in
