Peak Ventures invests in Norwegian startup Hydrogen Mem-Tech

Norway-based hydrogen technology company Hydrogen Mem-Tech has attracted an investment from India-based Peak Sustainability Ventures (Peak Ventures) and UK-based AP Ventures. The round also saw participation from Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and SINTEF Venture V. Post investment, Peak Ventures will own a 10.5% stake in the company. Samir Shah of Peak Ventures will join the Hydrogen Mem-Tech’s board.Hydrogen Mem-Tech claims to design and produce cost-effective palladium membrane technology enabling extraction of clean hydrogen from natural and biogases. The new funds will be used by the company for international expansion and to develop advanced hydrogen technology.