This post is also available in: Danish
Almost exactly two years ago, Hyme Energy was born: a sister company to nuclear startup Seaborg Energy, which aims to accelerate the transition to a fossil-free future by bringing affordable molten salt energy storage to market on an industrial scale.
Hyme raised €10.4M when the company was founded in November 2021 and has since made tremendous progress. The company has matured its technology to the pilot stage, secured grants of an additional €10M for two demonstration projects, established strong relationships with potential industrial and utility customers globally, and built a team of global talent. And now Hyme can unveil another major investment round of €8M.
“This new funding is a recognition from current and new investors of the impressive progress Hyme has made in just two years since its founding. The investment will enable us to keep a fast pace in our mission to decarbonize industries and the energy sector,” says Ask Emil Løvschall-Jensen, CEO and co-founder.
€28 in two years
The Copenhagen-based startup has secured funding from existing shareholders, including Heartland A/S, Nordic Makers and North-East Ventures. VÅR Ventures comes in as one of the new investors. Including the €10m grant to Hyme and the partners in the ongoing projects, the new round brings the total investment sum to €28.4M – equivalent to 212 million kroner.
The funding will be used to reach important milestones in the coming year. One of them is the commissioning and operation of an industrial-scale pilot plant currently under construction in Esbjerg. In addition, the company is focusing on further technology and product development as it prepares for full market entry.
Read also: Hyme replaces CHP plant with 700 degrees hot drain cleaner
“The next year will be crucial for Hyme as we demonstrate the true potential of our technology in our first plant and lay the full foundation for commercial success in the years to come,” says Ask Emil Løvschall-Jensen, adding: “I am grateful to our team and to all our partners and supporters, who have all played an important role in getting us this far.”
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