Ohmium International, a company that produces advanced proton exchange membrane (PEM) electrolyzer systems for green hydrogen production, has announced the successful completion of a $250 million Series C growth equity financing round.
The round was led by TPG Rise Climate, with participation from Hanover Technology Investment Management, Energy Transition Ventures, and Fenice Investment Group.
The funding will be used to expand Ohmium’s manufacturing capacity to 2 GW per year and to deploy projects for the company’s global customer pipeline in key regions including the U.S., Europe, India, and the Middle East.
The investment will also support research and development programs aimed at reducing the cost of green hydrogen production. TPG Rise Climate’s Beckley and Mariana Popa will join Ohmium’s Board of Directors.
Barclays and BofA Securities acted as placement agents, while Skadden, Arps, Slate, Meagher & Flom LLP and Spice Route Legal provided legal counsel to Ohmium, and Kirkland & Ellis LLP acted as legal counsel to TPG.
