Harnyss, LLC, a market leader in solid-state hydrogen storage technologies, announced today the closing of an equity investment from Riverbend Energy Group of Houston through that company’s newest fund, Energy Transition (Fund X).
Harnyss, based in Fort Worth, provides safe, cost-effective, and clean energy hydrogen storage solutions.
“We are excited to partner with Riverbend’s Energy Transition team in helping us achieve our go-to-market and commercialization goals,” Harnyss CEO Kirby Smith says in a statement. “As we thought about the right partner for this phase of the company, we wanted experienced investors with a track record in growing and scaling companies within the broader energy transition.”
The Harnyss’ patented metal hydride alloy formulations have the highest weight density in the market, offer high absorption and desorption kinetics at ambient temperatures, and are non-pyrophoric, according to the company. The company’s low-pressure storage solution does not require balance of plant equipment, offering customers significant cost advantages and ease of operation. Additionally, Harnyss uses non-rare earth minerals that are abundantly available.
Harnyss is strategically focused on the market for mobile, remote, space-constrained emergency backup power systems. Harnyss’ advanced hydrogen storage material has been encapsulated into canisters that are rack mountable and, when coupled with a fuel cell, delivers a plug-and-play hydrogen fueled power unit to end-customers.
The company has designed a self-sustaining, independent, green hydrogen power system that is able to capture water from the atmosphere, which is used to produce hydrogen that is stored safely until converted into electricity by a fuel cell. Harnyss is also focused on transportation and mobility applications such as forklifts, drones, electric vehicles, maritime, and heavy-duty industrial.
“Harnyss’ leading-edge technology offers a low pressure, high density, safe, and cost-efficient storage solution for the rapidly evolving hydrogen economy,” says Eric Danziger, managing director of Riverbend’s Energy Transition. “Harnyss fits well with the types of businesses and technologies that match our thesis of investing in energy transition service companies across the entire stack of the renewable energy ecosystem.”