The company intends to implement its solutions to provide affordable backup power options in North American markets. It also plans to supply fuel cell engines for three-wheeler transport and four-wheeler delivery applications in India and other Asian markets.
Protonas, a startup specializing in polymer electrolyte membrane (PEM) hydrogen fuel cell solutions, has recently secured an undisclosed sum in a funding round led by Transition VC. The investment will support establishing initial manufacturing operations in Chennai, where Protonas plans to develop prototype systems. This Tennessee-based company also operates a subsidiary in Chennai.
Founder David DeVries detailed the allocation of the funds, explaining that they will be used to set up manufacturing tooling and purchase the necessary equipment to establish an assembly line for building fuel cells. Additionally, the funds will help develop working prototypes for various applications. Protonas aims to deploy its solutions to provide cost-effective backup power in North America and power fuel cell engines for three-wheeler transportation and four-wheeler delivery services in India and other Asian markets.
DeVries highlighted the advantages of hydrogen fuel cells, noting that they have fewer moving parts than internal combustion engines, which simplifies maintenance and increases vehicle longevity. He also pointed out the potential environmental benefits, particularly for reducing urban pollution in India.
Transition VC’s focus on emerging alternative energy solutions and its strong networks in India are expected to aid Protonas’s growth, providing access to Indian and international markets. DeVries remarked on the significance of India’s energy transition to hydrogen and expressed enthusiasm about participating in this transformation.
Raiyaan Shingati, co-founder and managing partner of Transition VC, also expressed his enthusiasm for the partnership. He noted that while hydrogen fuel cells have been a reality for some time, the exciting prospect now is to make cost-efficient hydrogen fuel cells viable across various sectors. These include mobility, energy storage, and industrial applications, facilitated by their investment in Protonas and the support of industry veteran David DeVries.
