OCCIDENT is expanding its industrial tech portfolio by investing in an innovative fuel cell catalyst technology from Slovenia.
The oversubscribed € 1.7 million Series Seed round was co-led by OCCIDENT, High-Tech Gründerfonds (HTGF) and xista science ventures from Austria. The syndicate is completed by RUJ Ventures and a business angel, both from Slovenia.
ReCatalyst, a spin-off company from the National Institute of Chemistry in Ljubljana, is developing next-generation fuel cell catalysts for proton-exchange-membrane (PEM) fuel cells. Fuel cell technology is expected to contribute to decarbonization, especially in heavier applications such as heavy-duty mobility. The core of each PEM fuel cell requires far too high quantities of precious and scarce platinum with the current state of the art, making the technology expensive and difficult to mass produce. To solve this problem, ReCatalyst is developing a nanotech platform for the production of the next-generation of intermetallic platinum-alloy PEM fuel cell catalysts with the core mission of enabling an optimized use of platinum.
More information in the press release under the following Link
More about ReCatalyst
