Press-release: Caplyzer secures 7 million SEK in a new investment round
Caplyzer solves the biggest bottlenecks of cost and scalability faced by the green hydrogen industry with its unique, patented super-capacitive electrolyzer technology. By separating the production of hydrogen and oxygen, the technology eliminates need for expensive membranes, while working without any rare metals such as platinum and iridium. The result is hydrogen production that is ~30% more cost-efficient, safer and flexible to intermittent power from renewable energy sources.
The deeptech startup, that spun-off from research at KTH, Royal Institute of technology, has successfully closed a new investment round of 7 million SEK to scale and commercialize the technology.
The mission is simple: to decarbonize heavy industries globally.
“We believe that marginally improving existing technologies will not solve the biggest challenges of today. We need to completely rethink conventional methods and that is exactly what we have managed to do at Caplyzer making green hydrogen economically attractive for heavy industries to switch to. With Caplyzer, we put Sweden in the forefront of building resilience and energy security in Europe”
Rutvika Acharya Olofsson, CEO and Co-founder of Caplyzer AB
Since incorporation, Caplyzer has a granted patented, a system prototype, validated the technology together with a large energy customer, Enefit and multiple LOIs with energy companies in Sweden and Europe such as Hyrizeon. With this new funding, the company plans to take the technology from lab to market and conduct first pilot installations.
“Discovering the super-capacitive electrolyzer for hydrogen production is still today, to many, an unbelievable innovation, but it fits right in line with my 30+ years of research within capacitive devices. Glad to see how the idea has transformed from lab to reality and I am very excited to see this technology finding wider applications and markets.”
Professor Joydeep Dutta, Inventor and Co-founder of Caplyzer AB
The 7 million funding round is led by Trio Impact Invest and Almi Invest with support from UU Invest and strategic business angels such as Ingrid Salen and Henrik Nilsson. Caplyzer is backed, since before, by KTH Ventures, and has support from agencies such as Vinnova and Swedish Energy Agency.
“We’re excited to welcome Caplyzer to our portfolio. Their patented super-capacitive electrolyzer technology is membrane-free, built on earth-abundant materials with no rare earth elements, and addresses the safety, cost, and scalability barriers holding back green hydrogen today.
The recent wave of stalled green hydrogen projects reflects a cost and offtake gap, not a retreat from the underlying need of hydrogen and the need to decarbonize hard-to-abate industries like steel and ammonia. Closing that cost gap is exactly what Caplyzer is built to do, and we look forward to supporting the team as they scale.”
Siimon Vaske, CEO of Trio Impact Invest AB
Globally, green hydrogen is seen as one of the keys to phasing out fossil fuels in heavy industry and transport. At the same time, the market is hampered by a critical import dependency; today, 60 percent of the world’s electrolyzers are manufactured in China. Owning and controlling the green hydrogen technology has therefore gone from being a pure climate issue to becoming a central geopolitical security issue for Europe. Caplyzer aims to bridge that gap.
About Caplyzer: Caplyzer is a Swedish deeptech startup founded 2022 as a spin-off from KTH in Stockholm. The company develops next generation of membraneless electrolyzers for green hydrogen production with a mission to accelerate decarbonization of heavy industries through its safer, cheaper and flexible technology.
Media Contacts
Caplyzer AB:
Press/Investor: Rutvika Acharya, CEO | rutvika@caplyzer.com
