Dutch start-up Battolyser Systems secures €40 million in funding from the European Investment Bank (EIB) to advance its innovative hydrogen-battery technology, positioning itself to address the growing demand for clean energy solutions.
The European Investment Bank (EIB), the EU’s lending arm, has announced a €40 million investment in the Dutch hydrogen-battery technology start-up, Battolyser Systems. Battolyser Systems has designed a unique hybrid electrolyser-battery system based on a nickel-iron battery concept. This technology has the capability to automatically split water into Hydrogen and oxygen when fully charged while also serving as an electricity storage solution. The hydrogen generated can be sold directly to consumers or reserved to provide backup power for balancing seasonal variations in renewable energy production.
Despite having commenced orders for 250 units of its 1MW Battolyser, scheduled for delivery in 2024, commercial production of the hybrid electrolyser-battery system is pending. The company’s first production facility, spanning 7,000 square meters in Schiedam, a Rotterdam suburb, is on track to commence operations by the end of the year and is projected to reach a manufacturing capacity of 50MW next year.
Battolyser CEO Mattijs Slee stated that the initial €7.5 million from the EIB investment will support the completion of the Schiedam manufacturing facility, with potential for scalability to 200MW if additional production lines are established to meet growing demand.
Although the company is in the process of developing a 1GW plant at the Port of Rotterdam, expected to be operational in 2025, full capacity from that facility is not anticipated until 2026. Battolyser Systems is also considering expanding manufacturing capacity in the United States, contingent on demand, while upholding their manufacturing commitment in the Netherlands due to subsidy agreements.