French-based company Energy Observer Developments (EODev) has closed €20 million in funding to accelerate the industrialisation and commercialisation of its hydrogen solutions.
This funding will accelerate the industrialisation and commercialisation of sustainable, reliable, innovative, and accessible energy solutions.
EODev claims its hydrogen solutions address the entire energy chain including medium-power hydrogen power generators, on-board hydrogen energy systems for maritime and river use (propulsion and hotel load), and mobile floating hydrogen refueling stations for the production and distribution of green hydrogen.
EODev had leveraged a mid-2019 seed round to set up its operational structure, to sign its first strategic agreements and contracts, as well as to finance and design prototypes.
The second round funding will help EODev to position itself as one of the innovative players in the French hydrogen industry, whose growth is now a government priority after the enactment of the “France Relance” hydrogen plan.
The second funding has been secured from EODev’s shareholders, Accor Group, Thélem Assurances and Monnoyeur Group.
Created in March 2019, EODev is the result of the research and development carried out onboard Energy Observer, the first energy self-sufficient hydrogen vessel to circumnavigate the world.
The company thus benefits from the expertise acquired by its engineers and validated over the 30,000 nautical miles its laboratory boat has already covered since 2017, using hydrogen/fuel cell technologies.