Bspkl, a New Zealand-based deep-tech manufacturing startup that helps produce cleaner hydrogen, raised NZ$2.5M ($1.55M) in a seed round.
The company created an innovative way to produce catalyst coated membranes (CCMs) for the hydrogen industry.
WNT Ventures led the round, which Sydney VC Investible supported.
- The round also includes a $750,000 repayable grant from Callaghan Innovation's Technology Incubator Program.
- Bspkl is the first company to spin out from the Kiwi Crown Research Institute at GNS Science, where the inventor of the technology used to produce the cleaner hydrogen, Jérôme Leveneur, created it. Leveneur is now the co-founder and CTO of Bspkl.
- CCMs usually use platinum and iridium in solid membranes to produce hydrogen. As water passes through the CCMs, electrolysis breaks down the molecules to produce protons, electrons, and oxygen. With Bspkl's technology, creating a CCM requires 25 times fewer precious metals than previously needed.
- This technology is seen as necessary as the price of iridium poses a large problem for the hydrogen industry.
