Hydrogen energy company Endua raises $11.8 million

Green energy company Endua has announced that it has raised $7.5 million in pre-series private funding, with new investors including Queensland Investment Corporation (QIC), Melt Ventures and 77 Partners.

The company launched in 2021 with $5 million in backing from Main Sequence and Ampol.

Since then it has also been awarded $4.3 million in grants, including from the Cooperative Research Centre Projects, the Advanced Manufacturing Growth Centre, and the Accelerating Commercialisation initiative.

In an announcement on Tuesday, the company – which is developing modular power banks that store energy as hydrogen and convert it to electricity using fuel cells – said it is preparing to scale its technology, with a focus on microgrid and standalone power markets.

“We’ll use our latest investment to turbocharge Endua’s role in providing a solution that tackles multi-day energy resilience, especially for industries like communications, water and energy services, agriculture and farming, and resources which have huge opportunities for emissions reduction,” said CEO and founder Paul Sernia.

Sernia is a co-founder and former executive at NASDAQ-listed fast EV charger company Tritium.

Endua uses electrolyser technology developed at CSIRO. It is developing its solution with Ampol, which along with Main Sequence is an early investor in Endua.

“Our collaboration with Endua, and the hydrogen technology we have devised, can lead to a major reduction in the cost of hydrogen-powered energy storage and delivery,” added Sarb Giddey, Group Leader (Thermal and Electrochemical Technologies Group) at CSIRO.

Endua’s says its power banks are able to drive power loads of up to 100kW in a single module, and scale up according to needs.

Picture: supplied

Further reading

Endua to make hydrogen storage bank

Backing for clean hydrogen, mRNA, hypersonic drone projects in round 12 of CRC-P grants

24 manufacturers awarded $ 9 million in commercialisation grants

Melt Ventures raises $10m for new hardware investment fund