The generators manufacturer has launched a crowdfunding campaign on the Wiseed platform. It wants to raise €800,000 by May (about $860,000).
The objective of the fundraising on Wiseed is to achieve “a bridge to a Series A of at least €5 million (around $5.4 million) in the second half of 2023.” H2SYS has partnered with a fundraiser specialised in DeepTech and has already initiated promissing contacts with industrialists and investment funds.
So far, the young company has reached 20% of its target.
The SME, which employs around 20 people, develops and produces hydrogen generators, a technology that focuses on the hybridisation of a fuel cell to generate electricity over a power range of 5 kVA to 375 kVA. In 2022, the company achieved a turnover of over €1.2 million (about $1.3 million) thanks to the sale of its first two products, BOXHY and THYTAN, to more than 50 customers in around ten countries worldwide.
Article written by Laurent Meillaud and translated by Logan King