Flexergy, an employee-owned developer of hydrogen compression and storage technologies, is raising seed capital now with a blueprint to get its products to market in the UK and Texas, founder and CEO Paul Codd told ReSource.
The company has received pre-seed funding from Shell and includes US investors among its backers, Codd said.
Compressed hydrogen from any electrolysis process allows the gas to be stored and distributed at pressures up to 1,000 bar (metric unit), or “near-hydrothermal compression,” Codd said.
Working on an OEM business model, Flexergy is building its first physical system now outside Edinburgh, Scotland, using third-party manufacturing. The company has raised about $1m and has launched a $5m seed round.
Flexergy is willing to work with third parties to develop products for natural gas as well, Codd added.
