Inocel to receive a €64 M fund to develop its activity

Inocule fund development
Inocel to receive a €64 M fund to develop its activity

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.

To keep up with the latest hydrogen news, updates and events around the world check out our page here

Are you a LinkedIn user who would like to follow the latest hydrogen news on a more regular basis? Then our LinkedIn weekly newsletter may be what you’re looking for. You can subscribe to it here

Article written by Laurent Meillaud and translated by Mariem Ben Tili

If you liked it, share it

About the author

Laurent Meillaud

Laurent Meillaud

Freelance automotive journalist and consultant, author as well, focused on technologies and new trends for more than 30 years, convinced that hydrogen is one of the energies for the future.

Our latest articles

interactive world map