Inocel, the fuel cell manufacturer, has announced that it has secured a €64 million fund made up of equity, debt and grants. The company’s longstanding shareholders participated in the fundraising round.

The company is delighted with this funding, which marks a significant step in its development. It will now be able to finalise the industrialisation of its product and even deliver pre-production runs from 2024. One of the major milestones is the commissioning of the production line at its Belfort plant at the end of the year. Meanwhile, Inocel will be bringing its testing tools in-house. It will then be able to ramp up production in the first half of 2025, thus accelerating its commercial development.

The company has cutting-edge expertise in the design of its systems and in the associated software management, thanks in particular to its subsidiary GEKO, which specialises in the integration and dimensioning of complex fuel cell systems. It is active in high-power fuel cells for stationary power generation and land and sea mobility. The press release states that a number of commercial contracts are currently being discussed.

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Article written by Laurent Meillaud and translated by Mariem Ben Tili