EODev (Energy Observer Developments) announces the closing of a first round of funding to accelerate the industrialization and commercialization of its solutions developed around the latest hydrogen technologies.
Today, EODev announces the closing of its first round of funding, for a total amount of €20 million, thus positioning itself as one of the innovative players in the French hydrogen industry, whose growth is now a government priority.
This funding will accelerate the industrialization and commercialization of sustainable, reliable, innovative, and accessible energy solutions. EODev’s products address the entire energy chain: medium-power hydrogen power generators (GEH2®); on-board hydrogen energy systems (REXH2®) for maritime and river use (propulsion and hotel load), and mobile floating hydrogen refueling stations (STSH2) for the production and distribution of green hydrogen.
At a time when hydrogen occupies a strategic place in the “France Relance” plan announced by the French government*, the technologies developed by EODev are directly addressing the strong demand in Europe and around the world for efficient, accessible hydrogen use with a limited environmental footprint.
Bringing innovation out of the lab
Thanks to a seed round mid-2019, EODev was able to set up its operational structure, to sign its first strategic agreements and contracts, and to finance and design prototypes.
The announcement of the closing of its first round of funding for a total amount of €20 million will position EODev as one of the innovative players in the French hydrogen industry, whose growth is now a government priority.
Jérémie Laggarigue, CEO of EODev: “EODev is the result of the research and development carried out on board Energy Observer, the first hydrogen vessel to circumnavigate the world. Our products and solutions benefit from the expertise acquired by our engineers and demonstrated over the 30,000 nautical miles already covered by our floating laboratory in the harshest conditions, with a system combining different renewable energy sources and hydrogen as a storage means.”
Some of Energy Observer’s historical partners (Accor group or Thélem assurances) and new industrial partners (Groupe Monnoyeur) are thus alongside EODev in this new phase of its development. This commitment demonstrates the technical excellence of the products offered and the relevance of a strategy resolutely oriented towards the energy transition.
Integrating renewable energies and hydrogen technologies
Rather than opposing batteries to hydrogen, while they are complementary technologies, or solar to wind power when their intermittencies are different, the company positions itself as a true accelerator and incubator of solutions for a smart and optimized use of clean energy “mixes”, combining different renewable energy sources and hydrogen as a storage means.
This funding will help accelerate the industrialization and commercialization of sustainable, reliable, innovative and accessible energy solutions that address the entire energy chain:
- GEH2® : medium-power hydrogen power generators for various land applications (malls, datacenters, hotels, etc.)
- REXH2® : on-board hydrogen energy systems for maritime and river use (propulsion and hotel load) without CO2 emissions, without fine particles and without noise
- STSH2 : mobile floating hydrogen refueling stations for the production and distribution of green hydrogen for land, maritime and river use
Source: Energy Observer