Solhyd, a spin-off from the Belgian research university KU Leuven specializing in the development of solar panels for renewable hydrogen production, has successfully attracted up to EUR 6 million (USD 6.46 million) in seed capital. The funding will be utilized to further optimize the foundational technology and implement pilot applications.
Solhyd's innovative technology is designed to generate renewable hydrogen autonomously, eliminating the reliance on a power grid or liquid water, and avoiding the use of rare materials. The company's solar panels produce hydrogen by converting water vapor from the air into hydrogen gas through the utilization of sunlight.
Conceived in 2011 by two bioscience engineers, Solhyd is currently in the testing phase of prototypes at its facility and in various pilot projects. The company, which has a team of seven, plans to expand its workforce to expedite ongoing developments.
The seed round secured support from a consortium of investors committing to inject up to EUR 6 million into the company over the coming years, with an initial EUR 2 million already provided. The investor group includes the family office of brick manufacturer Vandersanden – Vansan Investments, entrepreneur Luc Thijs, Keiretsu Ventures, and Televi's co-CEO Lieven Danneels, along with the university's Gemma Frisius seed capital fund.
This fundraising effort coincides with Solhyd's spin-off from KU Leuven, establishing a dedicated entity to house the intellectual property, knowledge, and patents associated with the core technology developed at the university. The investment underscores the growing interest and support for innovative renewable energy solutions, particularly in the hydrogen sector.
