Gasgoo Munich-HydoTech closed a B+ financing round on June 24. The round featured a follow-on investment from Aramco Ventures, a subsidiary of Saudi Aramco, strategic investment from Conch Venture under Conch Cement, and participation from Oriental Fortune. Notably, the strategic investors introduced are all heavy-industry leaders ranked in the Fortune Global 500.
Image Credit: HydoTech
According to company data, HydoTech pioneered variable hydrogen production technology and a square electrolyzer product system, becoming the first to achieve green hydrogen costs at the $2 per kilogram level (approximately 14-15 yuan per kilogram). The company has established a full-chain capability, spanning from wind and solar power generation to variable hydrogen production, and from AI-powered management to the large-scale application of green fuels and industrial decarbonization.
HydoTech has built a global project footprint covering markets in China, Europe, the Middle East, South America, and Africa. To date, it has delivered more than 700 MW of capacity and launched over 20 benchmark projects, scaling up to a 1 GW production capacity. The company has forged deep partnerships with global energy and industrial players, including Shell, TotalEnergies, Sinopec, Saudi Aramco, Goldwind, and Conch Cement.
In terms of application scenarios, HydoTech is deeply involved in the world's largest green methanol project. It drove the launch of Asia's first project coupling green hydrogen with cement decarbonization and participated in the zero-carbon energy development for Saudi Arabia's NEOM city, as well as Europe's largest solar-hydrogen energy storage project. Previously, Sinopec Capital invested in the company for two consecutive rounds.
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Gasgoo's "Seeds Discovery" column is designed to create a service platform connecting startups, ecosystem partners across the supply chain, investment firms, and local governments — aiming to deeply empower the industry's upstream and downstream sectors. Since its inception, the column has been dedicated to uncovering standout companies, technologies, and business models that offer critical inspiration and leadership amid the wave of intelligent transformation, thereby driving the growth of industrial innovation. According to Gasgoo data, nearly every startup featured in "Seeds Discovery" has successfully connected with resources across the industrial ecosystem.
