Nernst Electric Raises $2M for Oxygen Generation Tech

Nernst Electric, an Irish innovator in on-site oxygen generation, has successfully closed a $2 million Seed funding round. The investment, led by Hatch Blue's Blue Revolution Fund, with participation from Hatch Accelerator Fund II, will fuel the scaling of its proprietary technology. This breakthrough system promises to revolutionize oxygen supply for critical sectors like aquaculture and heavy industry by producing high-purity oxygen directly at the point of need.

The company, founded in 2023 by Nick Farandos and Chris Matson, leverages a unique combination of solid oxide electrochemistry, advanced additive manufacturing, and deep expertise in industrial gas deployment. This allows Nernst Electric to bypass the logistical complexities and high costs associated with traditional oxygen supply methods, such as trucking liquid oxygen or relying on less efficient on-site generators. Their technology aims to deliver oxygen purity exceeding 99%.

The aquaculture sector, a primary target market, faces significant challenges in maintaining optimal oxygen levels for fish health and growth. Current solutions often involve expensive, logistically demanding deliveries or outdated on-site equipment. Nernst Electric's approach offers a more sustainable and cost-effective alternative, crucial for the expanding global aquaculture market, which is projected to grow significantly in the coming years to meet rising seafood demand.

Caitriona Kelleher, Managing Director of Early Stage Investments at Hatch Blue, highlighted the startup's rapid progress. "Since Nernst joined our Accelerator Fund, their progress has been fast and convincing," Kelleher stated. "The team came in with a manufacturing concept and have built it into a working system ready for its first aquaculture deployment. That kind of technical execution is impressive."

Beyond aquaculture, Nernst Electric's technology holds substantial promise for heavy industries including mining, steelmaking, and energy production. These sectors are major consumers of oxygen, and the limitations of current supply chains can impede productivity and increase operational expenses. Carsten Krome, Managing Partner and co-founder of Hatch Blue, noted the broad applicability: "The platform that solves critical oxygen supply for fish farms has industrial-scale application across heavy industry. That is exactly what gives the Blue Revolution Fund the conviction to back it."

With this new capital, Nernst Electric plans to construct a demonstration unit to validate its technology's performance in real-world farming environments. Successful trials will pave the way for commercial customer engagements and a subsequent Series A funding round aimed at broader market penetration within the aquaculture industry and expansion into other industrial applications.