Protonas, a startup specializing in low-cost hydrogen fuel cell technology, has received funding from Transition VC in a recent investment round. The amount of funding remains undisclosed. This investment will primarily support Protonas in establishing manufacturing operations in Chennai and developing prototype systems.
Headquartered in Tennessee, USA, Protonas operates a subsidiary in Chennai, India. Founder David DeVries expressed plans for utilizing the funding: “We will use the investment to set up manufacturing tools and equipment in Chennai, and to develop prototypes for various applications.”
Transition VC’s investment is expected to facilitate Protonas’ growth phase, leveraging their expertise in alternative energy solutions and extensive networks in India. Raiyaan Shingati, cofounder and managing partner of Transition VC, expressed enthusiasm: “Investing in Protonas aligns with our vision to advance cost-efficient hydrogen fuel cell technologies across multiple sectors, including mobility and energy storage.”
Protonas aims to deploy its hydrogen fuel cell solutions initially in North America for cost-effective backup power systems. Additionally, the company targets applications in India and other Asian markets, including fuel cell engines for three-wheeler transportation and four-wheeler delivery services.
DeVries highlighted the advantages of hydrogen fuel cells over traditional engines, emphasizing their simplicity and lower maintenance requirements. “Hydrogen fuel cells could significantly reduce pollution in large cities, especially in India,” he added, underscoring the importance of clean energy solutions for urban environments. The partnership aims to contribute to India’s energy transition towards hydrogen and global efforts in sustainable technology.
