US-Based Protonas to Set Up Plant Near Chennai for Low-Cost PEM Hydrogen Fuel Cell Solutions.

Protonas, a startup specializing in low-cost PEM hydrogen fuel cell solutions, is set to establish a manufacturing unit near Chennai. The company recently secured an undisclosed amount of seed funding from a group of venture funds led by Transition VC.

Headquartered in Tennessee, US, with a subsidiary in Chennai, Protonas aims to deploy its solutions for cost-efficient backup power applications in North American markets and to power fuel cell engines for three-wheeler transportation and four-wheeler delivery applications in India and other Asian markets.

With this new infusion of capital, Protonas plans to initiate manufacturing operations in Chennai and develop prototype systems. The startup has not disclosed the investment amount for establishing the plant.

Hydrogen fuel cells convert chemical energy from hydrogen into electricity, producing pure water and useful heat as by-products.

Protonas was founded by David DeVries, a veteran in the fuel cell industry since 1996. DeVries has guided the early-stage development of the world’s first commercially successful cathode air-cooled fuel cells, sold by ReliOn and Altergy Systems in the United States. He has held executive roles in various locations, including China, California, and Singapore.

Speaking to businessline, DeVries expressed confidence that by the time the company begins manufacturing, a green hydrogen ecosystem will have developed in India. “We believe hydrogen fuel cells, sometimes in combination with batteries, are a great solution for reducing high-pollution vehicles in cities. This is a long-term initiative that will take time to implement,” he said.

When asked if Protonas was ahead of its time, DeVries responded, “These things take time. We don't want to wait for the hydrogen infrastructure to be ready. We want to develop fuel cells and the necessary cost structures and manufacturing capabilities in India now, so that when hydrogen is ready, we are also ready with the solutions.”

DeVries highlighted that “the hybrid solution is the best combination.” He explained that hybrid vehicles, which combine batteries and fuel cells, wouldn't necessarily cost more. “You don’t need a large, heavy, and expensive battery. The battery can be used for acceleration, while the fuel cell can provide range. They work well together and are not mutually exclusive,” he added.

Transition VC, India’s first Energy Transition-focused VC fund, was launched by investors Raiyaan Shingati and Mohammed Shoeb Ali. Commenting on the investment, Raiyaan Shingati, Co-founder & Managing Partner of Transition VC, said, “Hydrogen fuel cells have been a reality for a while, but we are excited about making cost-efficient hydrogen fuel cells a reality for multiple sectors, including mobility, energy storage, and industrial applications, by investing in Protonas.

HBL