Valencia-based cleantech startup Matteco has raised €15 million in a Sequence A funding spherical, backed by a gaggle 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 handle the excessive prices of renewable hydrogen manufacturing, Matteco has developed a singular line of platinum-free supplies (PGMs) for electrolysers. These modern catalysts, catalytic coatings, and electrodes are essential for producing renewable hydrogen by way of alkaline electrolysis and Anion Alternate Membrane (AEM) know-how. Matteco’s know-how gives enhanced efficiency by decreasing vitality consumption, enabling increased present densities, and offering superior stability and sturdiness—key parts to enhancing inexperienced hydrogen’s financial viability.
Gonzalo Abellán, co-founder and CTO mentioned: “Our patented know-how, constructed on greater than 10 years of R&D, has a big influence on the competitiveness of inexperienced hydrogen manufacturing.” He notes that these superior supplies tackle a significant business problem: decreasing the operational and capital prices required for inexperienced hydrogen to grow to be a viable different to fossil fuels.
Scaling manufacturing to satisfy world demand
The €15 million funding will help the upcoming opening of a ten,000 sqm manufacturing facility in Paterna, Valencia, which can allow Matteco to supply 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 prospects already in Europe, North America, and Asia.
Iker Marcaide, co-founder and CEO of Matteco, acknowledged, “We sit up for this new part of progress and scaling up with companions who strongly imagine in influence 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 progress potential of Matteco within the renewable hydrogen market but in addition validates its dedication to sustainable influence. The corporate plans to develop its workforce from 30 to 100 staff by 2025, supporting additional innovation in clear know-how and decarbonization options.
