# HYDROCHEM

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hydrochem

- Industry: Oil & Gas
- Headquarters: Gangneung, South Korea
- Website: www.hydrochem-e.com
- Total disclosed funding: $0.2M
- Latest round: Seed (Apr 7, 2022)
- Investors on record: 2

## About

Based in South Korea, HYDROCHEM specializes in hydrogen safety solutions, providing advanced H2 sensors and safety systems designed for diverse industrial applications and renewable energy systems.Founded in 2021 and headquartered in Gangneung, South Korea, HYDROCHEM is focused on offering innovative hydrogen safety solutions. The company has successfully completed three deals to date, with its most recent deal occurring on April 7, 2022. HYDROCHEM raised KRW 250 million in Seed funding from Sopoong Ventures, amounting to a total of KRW 250 million raised overall. The current CEOs are Mike Lenton and Zia Lodhi.HYDROCHEM specializes in advanced hydrogen safety solutions, primarily offering H2 sensors and hydrogen safety systems. The core product line includes innovative catalyst technologies and hydrogen storage alloys that enhance the safe production and management of hydrogen energy. The company targets markets in Asia, Europe, and North America, catering to sectors such as energy, manufacturing, and research institutions requiring reliable hydrogen management solutions. Its clientele includes government agencies and private enterprises, focusing on the vital aspects of hydrogen safety technology.In 2022, HYDROCHEM reported a revenue of KRW 80,202,000. The company generates revenue through direct sales of its flagship products, including H2 sensors and safety systems, primarily engaging in B2B partnerships with industrial clients and governmental organizations. Revenue transactions often occur through direct contracts, which may include one-time purchases or ongoing service agreements, with pricing determined based on product complexity and specifications.HYDROCHEM plans to expand its product offerings with new hydrogen safety solutions, aiming for launch in upcoming years. The company is also targeting expansion into new markets, specifically in North America and Europe, by 2025. The recent Seed funding of KRW 250 million raised in April 2022 from Sopoong Ventures will be utilized to support these initiatives, enabling the development of advanced technologies and enhancing market reach.

## Funding rounds

- Seed, Apr 7, 2022, $0.2M — Sopoong Ventures
- Seed, Apr 1, 2022 — Korea Tech Incubator for Startup, Sopoong Ventures

## Investors

- Korea Tech Incubator for Startup — Seed
- Sopoong Ventures (https://capitalatlas.ai/funds/sopoong-ventures) — Seed