Valencia-based cleantech startup Matteco has raised €15 million in a Sequence A funding spherical, backed by a bunch of impact-driven traders, together with Grupo ASV (Spain), Napali (Chile), and Zubi (Spain). As a spin-off from the College of Valencia and a part of Zubi Labs, Matteco is pioneering superior supplies to decrease the prices of inexperienced hydrogen manufacturing, making it extra aggressive with fossil fuels.
Based in 2023 to deal with the excessive prices of renewable hydrogen manufacturing, Matteco has developed a singular line of platinum-free supplies (PGMs) for electrolysers. These revolutionary catalysts, catalytic coatings, and electrodes are essential for producing renewable hydrogen by way of alkaline electrolysis and Anion Trade Membrane (AEM) expertise. Matteco’s expertise gives enhanced efficiency by lowering vitality consumption, enabling greater present densities, and offering superior stability and sturdiness—key parts to enhancing inexperienced hydrogen’s financial viability.
Gonzalo Abellán, co-founder and CTO stated: “Our patented expertise, constructed on greater than 10 years of R&D, has a big impression on the competitiveness of inexperienced hydrogen manufacturing.” He notes that these superior supplies tackle a serious trade problem: decreasing the operational and capital prices required for inexperienced hydrogen to change into a viable different to fossil fuels.
Scaling manufacturing to satisfy international demand
The €15 million funding will assist the upcoming opening of a ten,000 sqm manufacturing facility in Paterna, Valencia, which can allow Matteco to provide sufficient electrodes for 1 gigawatt (GW) of electrolysis yearly. This facility will assist Matteco meet the rising demand for high-performance supplies amongst electrolyser producers globally, with clients already in Europe, North America, and Asia.
Iker Marcaide, co-founder and CEO of Matteco, acknowledged, “We stay up for this new section of development and scaling up with companions who strongly consider in impression investing in order that collectively we will harness the potential of supplies innovation to unravel the environmental challenges we face.”
This funding spherical not solely underscores the excessive development potential of Matteco within the renewable hydrogen market but additionally validates its dedication to sustainable impression. The corporate plans to broaden its workforce from 30 to 100 workers by 2025, supporting additional innovation in clear expertise and decarbonization options.