Who are the faces behind Dynelectro?
Let’s get to the faces of startup ,because even though Dynelectro has some unique technology, it is the faces of the company who makes the difference. Dynelectro was founded in 2018 by world-renowned fuel cell scientist, Søren Højgaard Jensen. Two years later came hydrogen thought-leader Samantha J. Phillips and joined the company. Just like any other promising startup, Dynelectro has excelled in attracting top-tier talent since day one. Namely, fuel-cell specialist, Anne Lyck Smitshuysen has been around since the early days, contributing with groundbreaking and award-winning research that already has pushed major boundaries for Dynelectro.
Combining Phillips’ strong strategic mind, with Højgaard’s and Smitshuysen’s expertise within the field of electrolysis and electricity storage, the team is a perfect mix between strategic power and visionary energy. With a mission to make clean, affordable energy, Dynelectro is using patented technology to produce affordable, green hydrogen through advanced, scalable solid-oxide electrolysis. In other words, they’re turning science into a mainstream energy solution that could potentially benefit the whole, wide world.
What problem does Dynelectro solve?
It’s no secret that hydrogen is expected to play a major role in the global energy transition to achieve decarbonization in otherwise hard-to-decarbonize sectors. Hydrogen is obtained through an electrolysis process, where you split water into hydrogen and oxygen. The process needs power as input, and if that power is coming from renewable energy, the outcome becomes green as well. As such, green hydrogen can become an unrivaled tool to replace fossil fuels with green fuels.
And electrolysis technology is right down Højgaard’s alley. Since the founding year of 2018, Dynelectro has been working towards the completion of its first production unit, with a goal of having 1 MW electrolysis units ready for commercialization in 2025. They know it, we know it, and so should everyone else; the world needs scalable and cost-competitive electrolysis to make more green hydrogen. And, Dynelectro is here to deliver just that.
Why were we, early (actually the first) investors? And why did we follow up?
Dynelectro has great potential to become a leading player in the transition from fossil-fueled energy to the use of clean and sustainable energy solutions. The current global energy supply from fossil fuels is approximately 135,000 TWh, corresponding to a mind-blowing 39 billion tons of CO2. By 2050, analysts forecast that clean hydrogen can cover 24% of the global demand.
“With this investment round secured, we can now proceed with the work of scaling up our Dynamic Electrolysis Units to 1 MW. This is essential to make a commercial launch of our product by 2025. It’s truly positive for us to be able to close this seed round. And looking back, it was key for the company’s success that we chose to join forces with the PSV DeepTech team two years ago. They were our first (investor) believers, and they have shown to be much more than just investors with capital,” explains CEO & founder, Søren Højgaard Jensen.
On the financial side of things, Dynelectro has another immense potential. In Europe alone, PtX is predicted to reach annual sales of 20 bEUR in 2025, which is when Dynelectro is expected to hit the market. From thereon, projections are estimated to 50 bEUR in 2030, and a staggering annual sale(s) of 630 bEUR in 2050.
On a final note, we’re truly keen to see how Dynelectro will continue to exploit their full potential, and contribute to the global transition from using CO2-emissive energy to green hydrogen. Understanding the potential impact of Dynelectro and the growing market of PtX, both our initial and follow on investment was obvious.
We’re proud as punch to be celebrating the hopes of a greener future together with Dynelectro.
Learn all about Dynelectro here.
