# Horizon Fuel Cell Technologies Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/horizon-fuel-cell-technologies-pte

- Industry: Power & Utilities
- Headquarters: Singapore, Singapore
- Website: www.horizonfuelcell.com
- Total disclosed funding: $8M
- Latest round: Series D (Feb 28, 2008)
- Investors on record: 1

## About

Horizon Fuel Cell Technologies specializes in developing and manufacturing hydrogen fuel cells and electrolyzers, contributing to a sustainable energy future through innovative solutions for various applications.Founded in 2003 and headquartered in Singapore, Horizon Fuel Cell Technologies Pte. Ltd. focuses on hydrogen fuel cell technology. The company has engaged in three financing deals, the latest being a Series A round where they raised USD 17.54 mn in August 2016, valuing the firm at USD 98 mn post-money.Horizon Fuel Cell Technologies develops advanced hydrogen fuel cells and electrolyzers, including the VL Series automotive stacks used in vehicles and modular stationary power plants for data centers, providing stable power and grid support. Its offerings cater to transportation, industrial power, and educational markets, with a clientele spanning South Korea, Japan, India, and the United States.In 2022, Horizon Fuel Cell Technologies reported a revenue of USD 14.12 mn. The firm experienced an EBITDA of USD -35.14 mn for the same year.Horizon Fuel Cell Technologies aims to expand its product line with new hydrogen fuel cell solutions targeting diverse industries. They plan to enter additional markets across Asia and North America by 2024, leveraging the USD 17.54 mn raised in their Series A round for these initiatives. The funding will support product development and market expansion efforts, furthering their commitment to promoting hydrogen as a clean energy source.

## Funding rounds

- Series D, Feb 28, 2008, $8M — Entropy Ventures

## Investors

- Entropy Ventures — Series D