EIFO and Novo Holdings lead €14M round in Power-to-Peroxide pioneer HPNow
HPNow, the pioneer in electrification of the hydrogen peroxide industry, announced the successful closing of a €14M round. The equity round is led by The Export and Investment Fund of Denmark (EIFO) together with Novo Holdings. Other investors in the round include MatiTech – a sustainable water treatment solution provider in Sub Sahara, and existing investors Evonik Venture Capital and AP Ventures.
HPNow’s breakthrough electrochemical technology enables the safe and sustainable generation of a powerful green oxidant directly on site, using only water and electricity as inputs. The output solution breaks down to pure water and oxygen following use. HPNow is bringing to market a greener alternative to the conventional fossil-fuel based centralized production, transportation and handling of bulk hydrogen peroxide, offsetting as much as three tons of CO2eq per ton of hydrogen peroxide generated on site, compared to standard production techniques.
Proceeds from this round of financing will primarily be used towards the scaling up of HPNow’s marketing, sales, technical support and production capacity, in order to address growing market demand.