Green technology startup Newtrace has secured $6.3 million in a pre-Series A funding round led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital. The investment will support the development of Newtrace’s innovative electrode and electrolyzer technologies for green hydrogen production.
The funding round also included participation from Peak XV Partners’ Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.
Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace aims to enhance green hydrogen production with its proprietary Voltagen electrode technology. This technology is designed to improve energy efficiency, extend system lifespan, and reduce hydrogen production costs in alkaline water electrolyzers.
Newtrace’s Voltagen electrodes are expected to enter initial commercial deliveries within the next year as the company scales pilot manufacturing, validates its technology with customers, and expands its engineering and manufacturing capabilities.
By offering a drop-in replacement for existing electrodes, Newtrace’s technology provides electrolyzer manufacturers, green hydrogen project developers, and industrial gas companies with a seamless way to enhance performance without the need for system redesigns.
In the fiscal year ending March 2025, Newtrace reported operating revenue of Rs 1.8 crore, alongside widened losses of Rs 15.6 crore, indicating the company’s focus on technology development and market expansion.
Source: Entrackr : Latest Posts