Newtrace, a deep-tech OEM specializing in electrolyzer solutions, has secured $6.2 million in a recent funding round. This investment marks a significant milestone for the company as it continues to advance its technology in the green hydrogen sector. The capital infusion will support Newtrace's mission to deliver end-to-end solutions across the electrolyzer value chain, aiming for the lowest capital expenditure, most efficient hydrogen production, and a simplified supply chain.
The company's core expertise lies in its five years of research and development in alkaline water electrolysis systems. This extensive R&D, which began with membrane-less electrolyzers, has culminated in deep system-level knowledge. A key innovation from Newtrace is VoltaGen, an advanced electrode technology in alkaline electrolysis. VoltaGen is designed to provide high efficiency and support flexible, high-current operations, particularly when powered by renewable energy sources. Newtrace is also actively developing its proprietary alkaline stack alongside VoltaGen. The company has served industrial clients such as BPCL and ONGC.
The $6.2 million in secured capital is intended to accelerate Newtrace's strategic growth initiatives. The company plans to allocate the funds towards scaling its manufacturing capabilities, expanding its research and development efforts to further enhance its electrolyzer technology, and strengthening its market presence. This investment is expected to enable Newtrace to meet increasing demand for efficient hydrogen production solutions and solidify its position in the rapidly evolving green energy landscape. The company is backed by investors including Peak XV, Speciale Invest, Micelio Fund, and Aavishkaar Capital.
