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NovaMea Secures $3.2 Million USD in Seed Funding to Advance Membranes and Catalysts for Green Hydrogen Production

April 2024 - NovaMea SA, a pioneering developer of advanced membranes and catalysts for anion exchange membrane water electrolysis, announced today the successful completion of its Seed funding round, securing $3.2 million USD in investment. This round was led by Lightspeed Venture Partners.

This significant milestone underscores NovaMea's commitment to enabling the green hydrogen revolution through innovation and cutting-edge technology. The funding will be instrumental in advancing the company's research and development efforts, accelerating product development, and scaling its operations.

"We are excited to announce the successful closing of our Seed funding round," said Dr. Xile Hu, Chairman of the Board and Co-founder of NovaMea. "This investment not only validates the strength of our technology but also provides us with the resources needed to further advance our mission of enabling the green hydrogen revolution."

NovaMea has made significant strides in the development of innovative membranes and catalysts for anion exchange membrane water electrolysis, an upcoming and revolutionary technology for the production of green hydrogen. NovaMea has recently successfully completed the first commercial contract with an early adopter, and the feedback from our customer on our products is extremely positive. With this new funding, the company aims to expedite the commercialization of its groundbreaking technologies and establish itself as a leader in the field of sustainable energy solutions.

NovaMea remains committed to driving innovation, delivering exceptional value to its customers, and contributing to a more sustainable future. The company looks forward to leveraging this new funding to accelerate its growth trajectory and achieve even greater milestones in the coming months and years.



About Lightspeed Venture Partners:

Lightspeed Venture Partners is a global venture capital firm that focuses on accelerating disruptive innovations and trends in the technology and healthcare sectors. With over $10 billion in committed capital, Lightspeed Venture Partners has a successful track record of backing visionary entrepreneurs and helping them build market-leading companies. The firm's portfolio includes some of the most prominent and successful companies in the world. For more information, visit Lightspeed Venture Partners website.

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