Slovenian nanotech company ReCatalyst closes €1.7M seed round
Ljubljana-based ReCatalyst, a developer of polymer electrolyte membrane (PEM) fuel cell catalysts, has announced the closing of a €1.7 million round. It was co-led by High-Tech Gründerfonds (HTGF), xista science ventures, and OCCIDENT.
- ReCatalyst, a spin-out company from the National Institute of Chemistry in Ljubljana, was founded in early 2021 by Tomaž Bizjak and Dr. Matija Gatalo. The startup develops a nanotech platform for the production of intermetallic platinum-alloy PEM fuel cell catalysts.
- The company wants to enable the massive scalability of high-power fuel cells while optimizing the usage of precious platinum group metals. With its nano-technological platform, ReCatalyst aims to accelerate the decarbonization of the energy and transport sectors.
- The round was co-led by the Germany-based High-Tech Gründerfonds (HTGF), recently, it joined €7 million round for Proxima Fusion, Austrian xista science ventures, that in July 2023 co-led €1.3 million round for Austrian drone startup subdron, and OCCIDENT from Germany. Slovenian RUJ Ventures and the strategic business angel Dr. Tine Tomažič also participated in the investment.
“The investment from a strong syndicate of renowned international investors not only provides the company with crucial financial and operational support but also positions it on a global scale. In addition, this opportunity synergizes effectively with Slovenia’s strong connections to the German and Austrian industries. I take immense pride in the fact that we have transformed what was once a PhD research project into one of the most promising products in the market with substantial potential for future developments, ”Tomaž Bizjak, CEO and co-founder of ReCatalyst added.
- ReCatalyst plans to use the investment to accelerate process development of its nanotech platform, expand its production capabilities and product portfolio, and revolutionize the market.