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EODev raises €20M to industrialize its hydrogen solutions

The closing of this first round of funding will accelerate the industrialization and commercialization of the solutions developed by EODev around the latest hydrogen technologies and meet the challenges of the energy transition.

At a time when hydrogen occupies a strategic place in the “France Relance” plan announced by the French government, the technologies developed by EODev are directly addressing the strong demand in Europe and around the world for efficient, accessible hydrogen use with a limited environmental footprint.

Bringing innovation out of the lab
Thanks to a seed round mid-2019, EODev was able to set up its operational structure, to sign its first strategic agreements and contracts, and to finance and design prototypes.

The announcement of the closing of its first round of funding for a total amount of €20 million will position EODev as one of the innovative players in the French hydrogen industry, whose growth is now a government priority.

Jérémie Lagarrigue, CEO of EODev:

“EODev is the result of the research and development carried out on board Energy Observer, the first hydrogen vessel to circumnavigate the world. Our products and solutions benefit from the expertise acquired by our engineers and demonstrated over the 30,000 nautical miles already covered by our floating laboratory in the harshest conditions, with a system combining different renewable energy sources and hydrogen as a storage means.”

Some of Energy Observer’s historical partners (Accor group or Thélem assurances) and new industrial partners (Groupe Monnoyeur) are thus alongside EODev in this new phase of its development. This commitment demonstrates the technical excellence of the products offered and the relevance of a strategy resolutely oriented towards the energy transition.

EODev raises €20M to industrialize its hydrogen solutions - REXH2 The fuel cell system

REXH2 The fuel cell system

Integrating renewable energies and hydrogen technologies
Rather than opposing batteries to hydrogen, while they are complementary technologies, or solar to wind power when their intermittencies are different, the company positions itself as a true accelerator and incubator of solutions for a smart and optimized use of clean energy “mixes”, combining different renewable energy sources and hydrogen as a storage means.

This funding will help accelerate the industrialization and commercialization of sustainable, reliable, innovative and accessible energy solutions that address the entire energy chain:

  • GEH2 : medium-power hydrogen power generators for various land applications (malls, datacenters, hotels, etc.)
  • REXH2 : on-board hydrogen energy systems for maritime and river use (propulsion and hotel load) without CO2 emissions, without fine particles and without noise
  • STSH2 : mobile floating hydrogen refueling stations for the production and distribution of green hydrogen for land, maritime and river use

EODev raises €20M to industrialize its hydrogen solutions - GEH2 Hydrogen generator

GEH2 Hydrogen generator

Companies: Energy Observer

Countries: France

Industries: Renewable Energy

Terms: Business, Innovations

Via
This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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