Empowering the Green Hydrogen Revolution: Climentum Capital Ignites Jolt Solutions’ Success Story
Investment Fuels Innovation in Electrodes & Anti-Corrosion Coatings
We are delighted to announce a groundbreaking collaboration between Jolt Solutions and Climentum Capital, which began at Tech Tour Sustainability 2022 and is now set to reshape the landscape of green hydrogen production. The recent investment by Climentum Capital, a pioneering Article 9 Climate Tech fund, marks a significant milestone in Jolt Solutions’s journey toward revolutionizing the production of activated electrodes for electrolyzers and fuel cells. Recently Climentium Capital was joined by Santander and increased the total funding to be received by Jolt to €7.5 million.
Image: Jolt Solutions Team
The Imperative for Green Hydrogen
Green hydrogen, a linchpin in the transition to sustainable energy, has faced formidable cost challenges, with prices per unit up to four times higher than those of fossil fuels. These challenges are exacerbated by the limitations of existing electrode technologies, which hinder the achievement of global consumption and cost targets for green hydrogen. In this context, Jolt Solutions, a Barcelona-based startup, emerged with a mission to address these challenges through cutting-edge technology.
Founding Jolt Solutions: A Vision for Transformation
Founded by Leon Rizzi, a serial entrepreneur, Dr. Alberto Bucci, CTO and developer of the tech, Arturo Vilavella, COO and managing operations and factory production, and Prof. Julio Lloret, Chief Scientist and leader of the team that developed the tech, Jolt Solutions is backed by a team of manufacturing experts and scientists from the Institute Catalá d’Investigació Química (ICIQ). Their vision crystallized into a patented catalytic coating technology that introduces a remarkably cost-effective and energy-efficient process for electrode production. This transformative approach positions Jolt Solutions’ electrodes to outperform existing options in the market, providing a crucial catalyst for the green hydrogen revolution.
Series A Funding Unleashes Growth Potential
Image: Doerte Hirschberg, Climentium Capital
The recent Series A funding round of €7.5 million, led by Climentum Capital, signifies a resounding vote of confidence in Jolt Solutions’s technology. The funding, also supported by Ship2B Ventures, Axon Partners Group, New Energy Technology Ltd, and Santander enables Jolt Solutions to establish its first production plant in Barcelona in early 2024. This strategic move not only facilitates scalability but also positions Jolt Solutions to meet the growing demand for its revolutionary technology.
Beyond Electrodes: Jolt Solutions's Vision for a Sustainable Future
Leon Rizzi, founder and CEO of Jolt Solutions, emphasizes the pivotal role of electrodes in determining the success of the green hydrogen industry. He draws a parallel to the revolutionary impact of microchip innovation in the Personal Computing era. Jolt Solutions’s vision extends beyond electrodes, with plans to release new products in 2024 for the AEM, PEM, and water treatment markets. This expansion underscores Jolt Solutions’s commitment to contributing to a broader spectrum of sustainable energy solutions.
Catalyzing Success: Climentum Capital's Strategic Investment
Climentum Capital, known for investing in companies with the potential to transform industries and cut megatons of CO2 emissions, recognized Jolt Solutions’s significant impact on the green hydrogen sector. Dörte Hirschberg, General Partner at Climentum Capital, highlights the reduced use of strategic materials and lower CO2 emissions in the electrode production process as pivotal advantages. The total investment of €7.5 million, complemented by a soft loan of EUR 1.5 million from the Catalan Government, underlines the commitment to supporting Jolt Solutions’s mission.
Tech Tour: Fostering Connections for Sustainable Impact
The meeting between Jolt Solutions and Climentum Capital at Tech Tour Sustainability 2022 showcases the Tech Tour’s effectiveness in bringing together like-minded investors and start-ups focused on sustainability and green hydrogen. This collaboration exemplifies the power of Tech Tour in fostering connections that drive impactful investments in the clean energy sector.
Looking Ahead: A Greener Future Unfolds
As Jolt Solutions prepares to open its first clean 4 GW factory in April 2024, the success story continues to unfold. Jolt’s innovative solutions and Climentum Capital’s strategic investment position them as key players in reducing the “Levelized Cost of Production” of hydrogen. This contribution is instrumental in the growth and development of the green hydrogen sector in the coming decades.
In conclusion, Jolt Solutions and Climentum Capital are not merely powering the green hydrogen revolution; they are shaping a cleaner, more sustainable future for us all. Their collaboration serves as a beacon of hope in the quest for innovative solutions to address the challenges of our time.
Thanks to Leon Rizzi from Jolt Solutions and Doerte Hirschberg from Climentium Capital for the interviews on which we based the article!