Hydrogen Mem-Tech

Hydrogen Mem-Tech

Produces blue hydrogen from bio- and natural gas - and catches the CO₂ generated in the process.

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€6.3m

Valuation: €80.0m

757.3x EV/Revenue

Early VC
Total Funding000k

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Revenues, earnings & profits over time
NOK20202021202220232024
Revenues00000000000000000000
% growth-48 %(85 %)(9 %)(14 %)
EBITDA00000000000000000000
Profit00000000000000000000
% profit margin(117 %)(277 %)(3621 %)(5246 %)(5627 %)
EV00000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x
R&D budget00000000000000000000

Source: Company filings or news article

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More about Hydrogen Mem-Tech
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Hydrogen Mem-Tech, established in Trondheim, Norway in 2017, is a company focused on hydrogen separation technology. Its foundation is built upon years of research and development on palladium membranes that originated within the energy company Reinertsen and SINTEF, one of Europe's largest independent research organizations. The company's core business involves designing and manufacturing compact and scalable palladium membrane separators that extract pure hydrogen from various gas streams, including natural gas and biogas. This patented technology utilizes an ultra-thin palladium alloy membrane which is exclusively selective to hydrogen, allowing it to separate ultra-pure hydrogen from other molecules with a recovery rate of up to 99%. The process also allows for the capture of carbon dioxide and other residual gases.

The company serves a global client base across a range of industries. Key markets include refineries for processes like hydrocracking and hydrotreating, as well as emerging sectors such as power generation and transport, where the technology is used for fuel cells in vehicles, trains, and ships. Hydrogen Mem-Tech is also exploring applications in ammonia cracking, which is gaining traction as a method for transporting hydrogen. The business model centers on the sale of these modular and low-maintenance hydrogen separation units, which are produced at their commercial facility completed in 2023. This facility was designed to increase production capacity tenfold. In March 2025, Hanne Martinussen, who has a PhD in electro-optics and extensive industrial experience, was appointed CEO, taking over from Thomas Reinertsen who had led the company for seven years. Martinussen previously served as the Chief Operating Officer.

Hydrogen Mem-Tech has attracted significant investment from major international players. Backers include Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, AP Ventures, and SINTEF Venture. These investments are being used to scale operations, further develop the separation technology with a goal of creating a unit with five times the current capacity, and expand into new markets, with a particular focus on India. The company's chairman is Thor Egil Five, a veteran in the early-phase investment scene.

Keywords: hydrogen separation, palladium membrane, hydrogen purification, biogas upgrading, natural gas reforming, carbon capture, ammonia cracking, hydrogen fuel cells, syngas processing, industrial gas separation, clean hydrogen, hydrogen economy, membrane technology, hydrogen recovery, decarbonization, energy transition, process intensification, gas purification, hydrogen infrastructure, palladium alloy

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