HyWatts Inc
Funding Stage: Seed stage
Country: United States
Award: Participant
"Revolutionizing Energy Storage with HTPEM Fuel Cell"
HyWatts is developing the Power-Plant-in-a-Box™, an innovative solution that integrates on-site solar energy production with hydrogen-based energy storage. This system utilizes a HTPEM Reversible Fuel Cell to efficiently convert solar energy into hydrogen and back into electricity, enhancing efficiency and reducing costs. The technology aims to offer reliable, renewable, and cost-effective power, ideal for applications such as EV charging stations, data centers, and more. This approach targets a $500B market opportunity, aiming to mitigate the rising cost of electricity due to infrastructure limitations. HyWatts has secured 7 LOIs worth $55M, with a potential $3B pipeline, and has received significant grants and funding to support its development. The business model initially focuses on equipment sales for pilot projects, leveraging subsidies and incentives, and will transition to an energy-as-a-service model with long-term contracts.