Copenhagen-based startup Dynelectro has successfully secured €4.5 million (DKK 34M) in a seed funding round which saw support from prominent investors, including the Danish state fund EIFO, the esteemed German fund Vsquared, and its existing backer, PreSeed Ventures. The Danish startup has carved a niche for itself by offering clean and efficient energy solutions as its core expertise lies in the realm of economic green hydrogen production, particularly through the use of solid oxide electrolysis. This latest injection of funds will undoubtedly fuel Dynelectro’s ambitious plans to swiftly scale its Dynamic Electrolysis Units technology, pushing the boundaries to achieve a remarkable 1 MW capacity. Furthermore, the startup aims to expedite the market launch of its products by 2025, enhance its patented technologies, streamline production processes, and chart a trajectory of rapid growth within the market.
Established in 2018, Dynelectro has emerged as a notable contender in the realm of green energy and Power-to-X solutions. The company’s primary focus on solid oxide electrolysis (SOE) technology has allowed it to develop sophisticated and scalable electrolysis units that effectively produce green hydrogen at a reasonable cost. The startup distinguishes itself through its implementation of a dynamic control mechanism, which skillfully balances intermittent power sources to optimize the production of green fuel. By leveraging this technology, the company aims to actively contribute to the global shift away from fossil fuels towards more sustainable alternatives. With a steadfast commitment to curbing CO2 emissions and promoting the adoption of greener fuels, Dynelectro positions itself as a significant player in the pursuit of a sustainable energy landscape.
“With this investment round secured, we can now proceed with the work of scaling up our Dynamic Electrolysis Units to 1 MW. This is essential to make a commercial launch of our product by 2025. It’s truly positive for us to be able to close this Seed round with such a dedicated group of investors,” says CEO Søren Højgaard Jensen.
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