21 December 2017
As part of its venture capital activities, Evonik plans
to invest a total of €100 million in promising start-ups
with innovative technologies and
in leading specialized venture capital funds.
Regional focus is Europe, North America and Asia.
Evonik currently holds stakes
in more than twenty startups and specialized funds.
Further information is available at http://venturing.evonik.com/
market segments
technology
DETAILS
Evonik has invested in the startup
through its venture capital unit
and now holds a minority stake in the company,
which is headquartered in Copenhagen (Denmark).
HPNow has developed a technology
for producing hydrogen peroxide (H2O2)
in a fully automatic system
using water, air, and an electric current.
The transaction took place
in the context of a Series A round of financing.
The parties have agreed not to disclose the amount of the investment.
Evonik will be represented by a seat
on the company’s supervisory board.
With an annual capacity of more than 950,000 metric tons
and 13 production plants, Evonik is one of
the world’s largest producers of hydrogen peroxide.
The HPNow technology solution enables
* low concentration H2O2 production on demand, directly
at the intended point of use, and
* using only electricity, water and air as feedstock.
The system is based on a modular generator
in which a proprietary electrocatalytic cell
is used to produce hydrogen peroxide
from water and oxygen in a single step.
HPNow’s technology will permit the use of H2O2 in applications
where transport and storage issues have so far restricted
the use of the material, for example in various areas of agriculture.
HPNow plans to use the capital to further scale up
and commercialize its technology.
Bernhard Mohr,
Head of Venture Capital at Evonik
“HPNow can facilitate a breakthrough
in the electrochemical production of hydrogen peroxide,”
“Evonik possesses a great deal of expertise and extensive experience
in the hydrogen peroxide business,
so we’re an ideal match for HPNow.”
Michael Träxler,
Head of Evonik’s Active Oxygens Business Line
“This patented technology offers the possibility
of cost-efficient provision of hydrogen peroxide as needed,
directly at the customer’s point of use,”
“The investment supports our strategy
of supplying our customers with tailored system solutions.”
Ziv Gottesfeld,
co-founder and CEO of HPNow
“In Evonik we’ve gained a strategic investor
with extensive experience in innovative technologies
connected with hydrogen peroxide
as well as expertise in tapping new markets,”
“We very much look forward to working with them
in bringing our on-site hydrogen peroxide generation solutions
to new markets and customers.”
Rellinghauser Straße 1-11
45128 Essen
Germany
Phone +49 201 177-01
Fax +49 201 177-3475
Silke Linneweber
External Communications
Phone +49 201 177-3389
silke.linneweber@evonik.com
Holger Seier
Head of Communication Corporate Innovation
Phone +49 201 177-2222
holger.seier@evonik.com
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