Enapter AG has raised about EUR53 million (US$53.511 million) of fresh capital to support its plan to develop and operate a hydrogen electrolyzer factory that will be located in the North Rhine-Westphalia region of Germany.
British multinational company Johnson Matthey plc has invested EUR20 million (US$20.19 million) in Enapter by subscribing at EUR19 (US$19.18) apiece. A total of 2.78 million new shares were placed to reach the gross proceeds.
The factory is expected to produce up to 10,000 Anion Exchange Membrane (AEM) electrolyzers a month. The operation will be powered solely by locally-generated renewable energy.
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