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Jan 10, 2023 14:10 EEST
January 10 (SeeNews) - Bulgarian investment company ImPulse I [BUL:IMP] said on Tuesday that its ImVenture II fund invested 250,000 euro ($268,262) in local hydrogen electrolyser systems maker Green Innovation, as part of the target company's 2 million euro fundraising round.
ImPulse I's investment took the form of participation in a capital increase of Green Innovation, the investor said in a bourse filing. Karoll Capital Management, newly-listed MFG Invest [BUL:MFG] and angel investors also took part in the funding round.
You can download the 2023 Renewable energy in Bulgaria report here
Founded in 2016, Green Innovation, which has just rebranded as Hydrogenera, develops alkaline electrolysers and renewable energy-powered systems for the production of green hydrogen, and has 82 projects under its belt. The company is looking to increase the capacity of its electrolysers from the current 5 kW each to up to 100 kW, according to its website.
The fresh funds will enable Hydrogenera to boost its production capacity, enhance its technological equipment and expand its team of specialists, ImPulse I added.
Last year, Razgrad municipality adopted Hydrogenera's GI5000 electrolyser system to decarbonise the local administration building's heating installation.
($ = 0.9314 euro)
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