Hydrogen technology startup Celadyne announced today that it has raised $4.5 million in seed capital, with proceeds supporting the company’s solutions aimed at enabling industrial and transport decarbonization.

Founded in 2018 by Gary Ong, Chicago-based Celadyne provides hydrogen solutions to the energy industry, working with fuel cell and utility companies to provide materials and technologies to convert hydrogen into usable energy for use through compact fuel cells, for use by heavy-duty industries such as trucking, shipping, rail, and industrial applications. The company’s solutions make hydrogen more efficient to use and produce, by replacing the proton exchange membrane, a key component in fuel cells and electrolyzers. According to the company, the technology allows for fuel cells that are more durable, enabling their use as an environmentally-friendlier alternative to diesel engines, and electrolyzers that are more compact and efficient, allowing for the production of low-cost green hydrogen as fuel.

Celadyne said that the new capital will be used to grow its team, with engineers coming from Siemens Energy, Argonne National Lab, The US Navy, Micron Technologies, Hyzon Motors, and Northwestern University, to support the ongoing development of the company’s materials technology, creating better fuel cells and expanding its usage in electrolysis across a growing list of clients. The company added that it anticipates doubling its customer base this year, and to open up more green energy applications in hard-to-abate industries.

Celadyne Founder and CEO Gary Ong said:

“At Celadyne, our mission is simple: unlocking the true potential of hydrogen. This new funding will accelerate our product in the market as we aim to decarbonize industries like transportation and manufacturing, offering a cost-effective route for green hydrogen production. Our goal is to embrace these industries, helping them contribute positively to the planet.”

The seed funding round was led by sustainable mobility-focused venture investor Maniv, and seed-stage supply chain and mobility investor Dynamo Ventures, and included participation by EPS Ventures.

Jake Wieseneck, Principal at Maniv, said:

“Like many decarbonized energy solutions, widespread hydrogen adoption faces a clear chicken or egg problem. Celadyne is solving both sides of the problem, by creating high-value hydrogen use cases while simultaneously reducing hydrogen’s cost to fuel growth. As believers in mobility innovation’s ability to catalyze generational change, we’re proud to back companies like Celadyne that are enabling a more sustainable future by creating new building blocks for the movement of people and goods.”