We’re excited to announce a major milestone in Power to Hydrogen’s mission to make clean hydrogen accessible and scalable: we’ve closed an oversubscribed Series A funding round of over $20 million, backed by strategic investments from two global leaders in maritime innovation—Mitsui O.S.K. Lines and Karpowership.

These investments, made through MOL Switch LLC (the corporate venture capital arm of Mitsui O.S.K. Lines) and Kinetics (Karpowership’s new technology division), will accelerate the commercial deployment of our Anion Exchange Membrane (AEM) electrolyzer systems—and signal a bold move toward decarbonizing maritime operations through green hydrogen.

“This strategic investment from Mitsui O.S.K. Lines and Karpowership is a promising step towards producing lower emissions shipping fuels.,” said Paul Matter, Co-Founder and CEO at Power to Hydrogen. “With the increasing pressure to decarbonize shipping and the IMO’s initiatives to promote zero-emission fuels, we see a significant opportunity for green hydrogen, e-methanol, and green ammonia to become the dominant fuels of the future. Our electrolyzers offer a cost-effective and scalable solution to meet this growing demand.”

Why Maritime Matters

The shipping industry is one of the hardest sectors to decarbonize—and one of the most critical. As global demand for clean fuels increases, low-cost, high-efficiency electrolysis becomes essential for producing green hydrogen and its derivatives.

Power to Hydrogen’s patented AEM technology provides a scalable and cost-effective solution, ideal for producing clean hydrogen fuel at ports, offshore, or in hybrid configurations alongside renewables.

“We are pleased to invest in Power to Hydrogen as a strategic partner. Green hydrogen will play a key role in the energy transition and Power to Hydrogen’s innovative technologies contribute to making it more cost-competitive and scalable. MOL is committed to decarbonizing the maritime industry and advancing the clean energy supply chain. This partnership aligns with our vision for a sustainable future and strengthens our efforts in next-generation fuel adoption. We look forward to working together to drive innovation and accelerate the transition to clean energy” said Tomoaki Ichida, CEO at MOL Switch

We are thrilled to announce this strategic investment partnership, marking a critical milestone in our continued legacy of innovation as well as our ambition in new technologies and the future of our business and, eventually, for our planet. As one of the leading energy transition names with the largest Powership fleet in the world, we are committed to not only providing power solutions for today but also future-proofing tomorrow’s grids. We know that the need for reliable power increases every day and we are responsible to address that demand in the most sustainable ways possible. Taking our first venture capital investment into hydrogen electrolysis together with our long-standing partner MOL’s VC fund MOL Switch, also represents our commitments in “Partnerships for the Goals.” said Mehmet Katmer, General Manager of Karpowership’s new clean technology arm Kinetics.

What’s Next

With this new capital, Power to Hydrogen will:

  • Scale up production of our proprietary AEM electrolysis systems
  • Deploy commercial systems for customers in shipping, energy, and industrial sectors
  • Build new partnerships to accelerate the use of green hydrogen in global supply chains

To read the full press release, click here.

We’re honored to be at the forefront of hydrogen innovation—and energized by the commitment of our partners to a more sustainable, decarbonized future.

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