Hydrogen Startup Celadyne Raises Funding to Boost Production, Expand Usage
New capital injection fuels growth for fuel cell materials innovator Celadyne
Industrial hydrogen technology company Celadyne has secured $4.5 million to scale up production of its proprietary fuel cell membrane materials. The seed round funding will help accelerate commercialization efforts and broaden the applications of the startup’s hydrogen solutions.
Founded in 2018, Chicago-based Celadyne develops advanced materials to replace components in fuel cells and electrolyzers. This makes hydrogen more efficient both to produce and utilize as fuel. The company’s proton exchange membranes offer improved durability for fuel cells powering heavy industry and transportation, while enabling more compact and cost-effective electrolyzers for green hydrogen generation.
Celadyne plans to invest the capital into research and development, expanding its engineering team comprised of experts from fields including energy, materials science and mobility. Funds will also support ongoing commercial growth, with the goal of doubling client numbers this year. By cutting costs and enhancing performance, the startup aims to open new opportunities for hydrogen to decarbonize hard-to-abate sectors like manufacturing, shipping and road freight.
Lead investor Maniv sees hydrogen adoption still facing challenges around supply and demand. However, Celadyne is tackling this ‘chicken and egg’ problem simultaneously by optimizing both production and end-use applications. With hydrogen poised to play a vital role in the clean energy transition, market-ready technologies like Celadyne’s proton exchange membranes will be crucial to ramping up scalable, low-carbon hydrogen systems globally.