Ohmium raises $250 million for electrolyzers

The hydrogen electrolyzer maker Ohmium has raised $250 million in a series C funding round led by the climate investing arm of the private equity firm TPG. Ohmium’s systems use proton-exchange membranes to split water into hydrogen and oxygen. The firm says it will use the funds to expand its manufacturing capacity to 2 GW per year and to complete electrolyzer orders already on the books for customers in Europe, India, the Middle East, and the US. TPG cites a growing gap between demand for green H₂ and the supply of electrolyzers as a key rationale for its investment.