Apr 15, 2021
Celadyne receives investment from Shell Ventures
“From well to wheel, the place where you lose the most energy with hydrogen is in the fuel cell,” said Gary Ong, CEO of Celadyne and a former graduate researcher in the Cockrell School of Engineering’s McKetta Department of Chemical Engineering. “If you want to make significant improvements, the only real place to do it is the membrane.”
The new investment and alliance with Shell Ventures is tied to Celadyne’s participation in a startup accelerator called Third Derivative, founded by the Rocky Mountain Institute. The deal builds on a previous relationship between the companies that started when Celadyne was a member of the inaugural cohort of the H2Refuel Accelerator sponsored by Shell.
