# Hydra Energy Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hydra-energy

- Industry: Oil & Gas
- Headquarters: Canada
- Website: www.hydra-energy.ca
- Total disclosed funding: $12M
- Latest round: Series A (May 27, 2021)
- Investors on record: 2

## About

Based in Canada, Hydra Energy Corporation operates in the sustainable transportation sector, focusing on providing low-carbon hydrogen solutions for commercial fleets through its Hydrogen-as-a-Service™ model.Hydra Energy Corporation was founded in 2012 in Canada. The company specializes in hydrogen solutions tailored for the transportation industry, allowing fleets to transition to cleaner energy. The CEO is Jessica Verhagen, and the company was established by Badr Abduljawad. Hydra Energy has raised a total of CAD 15.00 mn through a Series A funding round in May 2021 led by Just Business, marking a significant step in its development. The company has engaged in 3 deals since its inception.Hydra Energy specializes in Hydrogen-as-a-Service™ (HaaS™), providing a comprehensive solution for the sustainable transportation sector through low-carbon hydrogen supply. The company’s primary offerings include hydrogen-diesel co-combustion trucks designed for commercial fleet operations, enabling fleet operators to decarbonize their vehicles efficiently. This innovative technology allows for a seamless transition between hydrogen and diesel fuels, addressing critical pain points such as range anxiety while ensuring optimal fuel performance and efficiency. Hydra Energy's solutions are targeted at heavy-duty trucking companies, enabling them to secure long-term, local clean fuel contracts at diesel-equivalent prices with no upfront investment required. The company's products are offered primarily in North America and Europe, catering to various fleet operators seeking sustainable energy solutions for their logistics and transportation needs.Hydra Energy generates revenue primarily through partnerships with fleet operators and the sale of its Hydrogen-as-a-Service model. The company’s business transactions typically involve B2B collaborations, where fleet operators enter long-term contracts for hydrogen supply, facilitating a predictable revenue stream. This approach enables clients to integrate clean fuel solutions into their existing operations while ensuring cost parity with traditional diesel. Revenue may also stem from the licensing of technology to other companies interested in adopting hydrogen solutions. Specific pricing models are established during negotiations, focusing on tailored agreements that meet the needs of each client while promoting sustainable practices in the transportation industry. Hydra Energy's flagship offerings, such as its co-combustion technology, play a crucial role in these revenue-generating partnerships.Following its Series A funding round in May 2021, in which Hydra Energy Corporation raised CAD 15.00 mn, the company plans to further develop its initial waste hydrogen capture plant in British Columbia. The funding will support the creation of fueling infrastructure and conversion kits. As part of its growth strategy, Hydra Energy is also targeting expansion into new markets, specifically focusing on increased operations in North America and Europe to address the rising demand for sustainable transportation solutions.

## Funding rounds

- Series A, May 27, 2021, $12M — Just Business
- Seed, Jul 14, 2020 — Sustainable Development Technology Canada

## Investors

- Sustainable Development Technology Canada (https://capitalatlas.ai/funds/sustainable-development-technology-canada) — Seed
- Just Business (https://capitalatlas.ai/funds/just-business) — Series A