# Pajarito Powder

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pajarito-powder

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Albuquerque, US
- Website: www.pajaritopowder.com
- Total disclosed funding: $1M
- Latest round: Seed (Sep 1, 2012)
- Investors on record: 1

## About

Pajarito Powder, LLC is a US-based company specializing in the manufacture of advanced catalysts for fuel cells and electrolyzers, driving innovation in the green energy sector.Pajarito Powder, LLC, founded in 2012 in Albuquerque, US, focuses on producing advanced catalysts for fuel cell technologies. The company has been involved in 7 different funding rounds, with its latest funding of USD 4.50 mn raised in April 2025 from Ecovyst Inc. Christian Mohrdieck and Thomas J. Stephenson lead the company as CEOs.Pajarito Powder, LLC specializes in manufacturing advanced catalysts tailored for Proton Exchange Membrane (PEM) and alkaline fuel cells, as well as electrolyzers. Its core product offerings include Platinum Group Metal (PGM) catalysts, Engineered Catalyst Supports™ (ECS products), and Precious Metal Free™ (PMF) catalysts, which are vital for Fuel Cell Electric Vehicles (FCEVs) and hydrogen generation. The company employs its proprietary VariPore© manufacturing platform to produce high-performance catalyst products at scale for clients in the green energy market across North America and Europe.Pajarito Powder engages in B2B partnerships, supplying advanced catalysts directly to the hydrogen and fuel cell manufacturing sectors. Revenue is generated through long-term contracts, with flagship products like Engineered Electrolyzer Catalysts™ (EEC products) forming the basis of these agreements. The company benefits from grants and funding initiatives, including a USD 10 mn award from the U.S. Department of Energy, enhancing its production capacity and product offerings.Following its most recent funding round in April 2025, where Pajarito Powder, LLC raised USD 4.50 mn from Kia and returning investor Hyundai Motor Company, the company plans to enhance its technology and deepen customer partnerships in the hydrogen market. The funding will support the development of new products and expansion into additional geographic markets, focusing on increasing its presence in the growing hydrogen sector.

## Funding rounds

- Seed, Sep 1, 2012, $1M — Verge

## Investors

- Verge (https://capitalatlas.ai/funds/verge) — Seed