boost its growth with €64M financing
Summary
INOCEL, a pioneering player in high-power fuel cell systems for stationary energy generation, heavy duty mobility and maritime, has secured a structured financing of 64M consisting of equity, debt, and subsidies. Historical shareholders participated in the fundraising operation.Saint-Egr\xe8ve, France Founded in May 2022, INOCEL is revolutionizing the fuel cell market with high-power solutions offering levels of efficiency, responsiveness and performance that compete uncompromisingly with diesel and hydrogen combustion engine solutions. The company designs, tests, and manufactures a 300 kW fuel cell to decarbonize stationary energy generation, heavy duty mobility and maritime applications. The companys product, designed to be modular and plug & play, incorporates numerous innovations, some of which stem from CEA, Europes leading research center in fuel cells.INOCEL team is now up to over 80 people, structured around 2 strategic sites: its product development and testing center located in Saint-Egr\xe8ve and its 15,000 m2 production plant in Belfort which will eventually employ 700 people. The company has advanced expertise in the design of its systems and associated software management, as well as highly experienced teams in the industrialization and large-scale production of complex products.INOCEL benefits from the expertise of its subsidiary GEKO, specialized in the integration and sizing of complex systems related to its fuel cell.Today, INOCEL is an independent company structured around leading private and industrial investors.INOCEL is delighted to have finalized a 64M financing package in early 2024, marking a significant milestone in the companys development.