HPNow Secures €14M Funding to Scale Up Sustainable Hydrogen Peroxide Production

Key Takeaways

HPNow successfully closed a €14M equity round led by The Export and Investment Fund of Denmark (EIFO) and Novo Holdings.
The company’s electrochemical technology offers a greener alternative to conventional hydrogen peroxide production.
HPNow’s solutions have applications in agriculture, processed water, and the food and beverage sectors.
The funding will scale up marketing, sales, technical support, and production capacity.
The technology also contributes to the UN Sustainable Development Goals and addresses the breakdown of hazardous micro-pollutants in drinking water.

HPNow, a pioneer in the electrification of the hydrogen peroxide industry, has announced the successful closing of a €14M funding round. The round was led by The Export and Investment Fund of Denmark (EIFO) and Novo Holdings, with participation from MatiTech, Evonik Venture Capital, and AP Ventures. The funding aims to scale up HPNow’s marketing, sales, technical support, and production capacity to meet growing market demand.

A Greener Alternative

HPNow’s breakthrough electrochemical technology enables the safe and sustainable generation of hydrogen peroxide directly on-site, using only water and electricity. This green oxidant breaks into pure water and oxygen after use, offering a sustainable alternative to conventional fossil-fuel-based production methods. The technology offsets as much as three tons of CO2 equivalent per ton of hydrogen peroxide generated on-site.

Broad Applications

HPNow’s solutions find applications across various sectors, including agriculture, process water, and the food and beverage industry. The technology also addresses the breakdown of hazardous micro-pollutants in drinking water from pharmaceuticals, cosmetics, and oil and gas industries.

Investment and Endorsement

Jonas Bjaaland, Investment Director at EIFO, emphasized the multi-billion euro market opportunity that HPNow’s technology represents for safe, sustainable, and affordable water treatment. Marcus Remmers, Partner at Bioindustrial Investments, Novo Holdings, highlighted the investment as a logical step towards responsible use of water resources.

Future Plans

Ziv Gottesfeld, CEO at HPNow, stated that the new investment round represents a strong endorsement of their technology and will enable the company to take a significant leap forward. “With the strong backing of new and existing partners, our company is ready to take sustainable on-site peroxide generation to the next level,” said Gottesfeld.

Image provided by HPNow