Sungreenh2
Entrepreneur First '21Singapore, SG Β· Founded 2021 Β· 8 known investors
SunGreen makes nanoengineered electrodes, porous transport layers and stacks using its NanoFuzeX platform, which fuses catalyst into a porous metal substrate without a polymer binder or platinum-group metals. It sells finished electrodes and stacks, licenses its technology and stack designs to manufacturers, and offers toll manufacturing and materials testing, with green hydrogen (AEM electrolysis) as its initial market and applications across other electrochemical sectors.
Also known as SunGreen Β· SunGreenH2
Founders & leadership
Sungreenh2 was founded in 2021 by Tulika Raj and Saeid masudy panah.

Investors Β· 8
Also in the syndicate Β· 6
Company profile
researched Aug 2026SunGreenH2 is a Singapore-based cleantech/advanced-materials company that develops nanoengineered electrodes, porous transport layers (PTLs) and electrolyser cell stacks for electrochemical water splitting. Its core technology, marketed as the NanoFuzeX platform, metallurgically fuses catalyst material into a porous metal substrate without a polymer binder, which the company says preserves the catalyst nanostructure while maintaining full metallic contact and avoiding the delamination associated with conventional coatings. The company states its stacks reach approximately 90% HHV efficiency using no platinum-group metals (no iridium or platinum), and describes the electrodes as independently validated and operating in commercial AEM systems at MW scale, with third-party characterisation and electrochemical testing completed at external research laboratories.
The product line spans catalyst-coated electrodes for alkaline, AEM and adjacent electrochemistry; nanostructured PTLs on nickel and titanium substrates (including an ultra-thin platinized PTL for PEM and a Ru-Ir-free titanium PTL for electrochlorination); and electrolyser stacks in 2 kW, 20 kW and 200 kW sizes, offered as stacks alone or as complete systems, plus a 20 kW "cube" (10 kg H2/day) and a 1 MW container (500 kg H2/day). Listed prices include US$1,557 for catalyst-coated electrodes, US$621 for the platinized PTL and US$3,880 for an AEM electrolyzer cell. Green hydrogen (alkaline and AEM electrolysis) is described as the beachhead market, with the same platform positioned for five adjacent electrochemical applications: CO2 conversion and e-fuels gas-diffusion electrodes, electro-oxidation and PFAS removal, nickel plaque electrodes for Ni-H2/Ni-Cd/Ni-Zn batteries, structured hydrogenation catalyst inserts, and urea/ammonia oxidation.
Earlier company and investor communications described the technology in terms of nanostructured electrodes that increase active surface area, raising current-density output by almost 2x while cutting precious-metal loading β reported as an order-of-magnitude reduction generally, and up to 30x lower PGM loading in PEM electrolysers β and reducing energy use by around 10%, with the technology described as applicable to almost all commercially available electrolysers.
Founding story
Company accounts state SunGreenH2 began in 2020 in Singapore when Tulika Raj, a commercial leader with about 15 years in the energy sector who had scaled renewable energy companies and led project investments at renewable funds, met Dr Saeid Masudy Panah, a multidisciplinary scientist with over ten years of R&D experience in thin-film solar cells, photodiodes and transistors who had invented a series of water-splitting electrodes. They concluded that his research could be applied to electrodes for green hydrogen and founded the company on the premise that net-zero targets cannot be met without accelerating green hydrogen, since direct renewable electrification addresses only about 25% of global CO2 emissions.
Business model
SunGreenH2 describes three routes to market: direct sale of finished electrodes, PTLs and stacks; licensing of its electrode manufacturing technology and, for AEM and CO2 electrolysis, its stack designs, transferred into a licensee's existing production line with materials supply and a royalty per square metre; and toll manufacturing, in which customers supply their own catalyst material and SunGreenH2 returns finished electrodes in the specified geometry under the customer's brand. It also offers standalone validation and testing services (XRD, SEM, adhesion and full electrochemical evaluation) delivered as documented reports. Licensing is presented as the mechanism for reaching gigawatt-scale volumes without gigawatt-scale capital.
Product sales at published unit prices (e.g. US$1,557 catalyst-coated electrodes, US$621 PTL, US$3,880 AEM electrolyzer cell), technology and stack-design licensing with materials supply plus a per-square-metre royalty, toll manufacturing fees, and paid characterisation/testing services.
Traction
By August 2022 the company reported trials of its materials with leading global electrolyser OEMs, a prototype electrolyser cell under demonstration at A*STAR's Institute of Materials Research and Engineering, secured pilot projects, and commercial collaboration opportunities with Molymet and Mitsubishi Heavy Industries, with opportunities explored in Singapore, the EU, North America, Japan and India. Its current website states that electrodes operate in commercial AEM systems at MW scale, that extensive third-party testing has been completed at external research and testing laboratories, and that manufacturing capacity is already in place and operating. A third-party startup directory records total funding of $4.5M as of February 2026.
Latest developments
The current website presents the NanoFuzeX platform with claims of ~90% HHV stack efficiency, zero PGMs, MW-scale commercial AEM deployments and in-place manufacturing capacity, alongside a three-route commercial model (product sales, licensing, toll manufacturing) and an expansion of target applications into CO2 conversion/e-fuels, PFAS removal, nickel batteries, structured hydrogenation catalysts and urea/ammonia oxidation. A third-party directory entry updated 22 February 2026 lists cumulative funding of $4.5M.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company positions itself against a market backdrop it describes as roughly 25 GW/year of global electrolyser manufacturing capacity versus about 4 GW installed, with Western lines at 10-20% utilisation, arguing that competition will be decided on stack efficiency and elimination of iridium supply-chain exposure rather than undifferentiated capacity. In 2022 it was described as the only company in Southeast Asia commercialising electrolyser technology. A third-party directory lists Sunfire, Solugen and Mainspring Energy as competitors.
The company differentiates on a binder-free, metallurgically fused catalyst layer that it says retains the catalyst nanostructure while keeping full metallic contact, on ~90% HHV stack efficiency, and on elimination of platinum-group metals (no iridium or platinum), reducing precious-metal supply-chain exposure. It also claims applicability across almost all commercial electrolyser types and reusability of the same platform across five adjacent electrochemical markets, plus membrane-agnostic stack designs that pair with membranes a licensee has already qualified.
Technology
The NanoFuzeX platform fuses catalyst into a porous metal skeleton to produce a binder-free, metallurgically bonded catalyst layer that is conductive end to end and mechanically locked, in contrast to coatings that insulate the catalyst behind polymer binder or conventional fusing that coarsens the nanostructure. Outputs include bifunctional anode/cathode electrodes in custom formats, nanostructured PTLs on nickel and titanium engineered for transport and bubble management, and membrane-agnostic stack designs. The company reports ~90% HHV stack efficiency with zero platinum-group metals, stability at very high current densities, and patent-pending catalyst compositions and stack designs across major markets, together with proprietary process know-how said to be proven in MW-scale production. Earlier descriptions emphasise nanostructured electrodes that increase the surface area available for water contact per unit of active area, nearly doubling current density while cutting precious-metal loading and energy use, and note exploration of electrolysis using seawater or impure water.
Go-to-market
Sales of components and stacks to electrolyser OEMs and industrial users, complemented by licensing and toll manufacturing for volume manufacturers, plus paid validation/testing engagements. The company solicits pilot trials with strategic partners through its website and has pursued MOUs and pilot projects with electrolyser manufacturers across Asia Pacific, Europe and North America.
Electrolyser manufacturers and OEMs, catalyst makers and developers without their own coating lines, and industrial hydrogen users in hard-to-abate sectors such as chemicals, cement, steel, refining, shipping and aviation; adjacent buyers include e-fuel, water treatment (PFAS), nickel battery and chemical hydrogenation producers.
Geography
Headquartered in Singapore, with a presence in Hamburg, Germany via Hamburg Invest's Scaleup Landing Pad, and commercial engagement or pilot activity reported across the EU, North America, Japan, India and Asia Pacific.
History
Founded in Singapore (company sources say 2020), SunGreenH2 raised US$250,000 in pre-seed funding in 2020 from Entrepreneur First and SOSV's HAX after showcasing its technology at an Entrepreneur First event, and previously received non-dilutive funding from NTU Ecolabs and Startup SG. In August 2022 it closed a US$2M seed round led by SGInnovate with Vinci VC, Cap Vista, Entrepreneur First, SOSV's HAX, she1K, T. Chen Fong and Apsara Investments, announced alongside a grant award under the S$/US$8 million Energy Market Authority-Shell partnership in Singapore. It was subsequently brought to Hamburg, Germany, through Hamburg Invest's "Scaleup Landing Pad" programme. The company has since broadened from electrode components toward complete stacks and systems and a multi-market materials platform branded NanoFuzeX.
Risks & controversies
Performance and validation claims (~90% HHV efficiency, 2x output at half the cost, MW-scale commercial operation, independent validation) are sourced from the company's own website; the named third-party testing laboratories and validating parties are not disclosed in the material reviewed. Sources are also inconsistent on founding year (internal record says 2021 while company and investor communications say 2020) and on energy savings (10% in 2022 accounts versus 20% on the current site). The company itself notes sector headwinds: global electrolyser manufacturing capacity of roughly 25 GW/year against about 4 GW installed, Western line utilisation of 10-20%, and project cancellations where returns no longer clear.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 6
launches, deals, and filingsSeed round led by SGInnovate with participation from Vinci VC, Cap Vista, Entrepreneur First, SOSV's HAX, she1K, T. Chen Fong and Apsara Investments.
$2M source β
Received a grant award as part of the $8 million partnership between Singapore's Energy Market Authority and Shell, announced alongside the seed round.
Hamburg Invest's Scaleup Landing Pad programme brought the Singapore-based company to Hamburg, Germany.
Prototype electrolyser cell under demonstration at A*STAR's Institute of Materials Research and Engineering while materials trials ran with global electrolyser OEMs.
Company stated it had won commercial collaboration opportunities with Molymet and Mitsubishi Heavy Industries and was signing MOUs for pilot projects in the EU, North America, Japan, India and Singapore.
Raised pre-seed funding after being selected to showcase its technology at an Entrepreneur First event; also received non-dilutive funding from NTU Ecolabs and Startup SG.
$250K source β
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 8
primary sources listed
- Supercharging Electrolyzers: SunGreensungreenh2.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Sungreenh2 do?
- Singapore-based materials company making binder-free, PGM-free nanoengineered electrodes and stacks for water electrolysis.
- Who founded Sungreenh2?
- Sungreenh2 was founded by Tulika Raj, Saeid masudy panah in 2021.
- Who are Sungreenh2's investors?
- Sungreenh2's investors include Entrepreneur First, Vinci BV.
- Where is Sungreenh2 headquartered?
- Sungreenh2 is headquartered in Singapore, SG.
