# California Catalysts

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/california-catalysts

- Industry: Materials
- Headquarters: Chatsworth, US
- Website: www.h2utechnologies.com
- Total disclosed funding: $21M
- Latest round: Series A (Oct 23, 2024)
- Investors on record: 7

## About

Based in California, US, and founded in 2020, H2U Technologies, Inc. is a developer of new catalysts used to start or speed up the electrolysis of water into hydrogen and oxygen. In 2021, H2U Technologies, Inc. raised USD 7 million in Series A funding co-led by new investors Dolby Family Ventures, Hess Corporation, Jericho Energy Ventures and Motus Ventures. The funding was part of a larger USD 18 million Series A round. In March 2022, H2U Technologies raised USD 11 million in Series A funding led by returning investor Jericho Energy Ventures, with participation from new investors FreeFlow, VoLo Earth Ventures, and Hess Corporation. The funding was part of a larger USD 18 million Series A round. The company is led by CEO, Mark McGough.

The company offers low-capital-cost electrolyzers that leverage iridium-free catalysts and electrolyzer design improvements to enable cost-effective green hydrogen generation. The company's 200 kW Yellowstone electrolyzer units come in plug-and-play, standard shipping containers. It also offers Catalyst Discovery Engine™ (CDE) to develop low-cost non-PGM catalysts for use in our electrolyzer systems. CDE uses artificial intelligence to identify non-PGM (Platinum Group Metals) PEM catalysts. In 2021, the company entered into a strategic partnership with SoCalGas, the largest natural gas distributor in the U.S.

The company plans to use the 2022 funding for the advancement of its innovative electrolyzer designs and to commission the build of its proprietary Catalyst Discovery Engine™ (CDE). In October 2024, Calicat raised USD 3 million in series A funding from Acario, Dolby Family Ventures, Freeflow Ventures, Hess Corporation, Jericho Energy Ventures, Motus Ventures, and VoLo Earth Ventures.

## Funding rounds

- Series A, Oct 23, 2024, $3M — Dolby Family Ventures, Motus Ventures, Hess Corporation, Freeflow Ventures, Acario, VoLo Earth Ventures, Jericho Energy Ventures
- Series A, Mar 2, 2022, $11M — Hess Corporation, Freeflow Ventures, VoLo Earth Ventures, Jericho Energy Ventures
- Series A, Jun 1, 2021, $7M — Dolby Family Ventures, Motus Ventures, Hess Corporation, Jericho Energy Ventures

## Investors

- Dolby Family Ventures (https://capitalatlas.ai/funds/dolby-family-ventures) — Series A
- Motus Ventures (https://capitalatlas.ai/funds/motus-ventures) — Series A
- Hess Corporation — Series A
- Jericho Energy Ventures (https://capitalatlas.ai/funds/jericho-energy-ventures) — Series A
- Freeflow Ventures (https://capitalatlas.ai/funds/freeflow-ventures) — Series A
- VoLo Earth Ventures (https://capitalatlas.ai/funds/volo-earth-ventures) — Series A
- Acario (https://capitalatlas.ai/funds/acario) — Series A