naco secures the prestigious EIC Accelerator grant to revolutionize Green Hydrogen production!
The Project is aimed at creating specialized nano-coatings and new materials that replace the need for platinum and other expensive materials in the production and usage of hydrogen at a massive scale. For this project Naco Technologies has secured a grant of €2.3 million, as well as investment, for a total of €10 million.
Hydrogen is a major opportunity in the switch to an eco-friendly economy. Today, it is produced from fossil fuels with high carbon emissions. A green alternative is converting excess solar and wind energy into hydrogen via a water electrolysis process. Hydrogen produced in this process is very aggressive chemically, so electrolyzer components need protection with advanced coatings. Currently, most widely used coating deposition methods are outdated and not scalable due to high production costs and usage of precious and scarce metals.
“We developed a breakthrough high-speed nano coating process that can reduce consumption of scarce metals used in traditional catalytic coatings (like Pt and Ir) by 10 times. It also provides an opportunity to develop new materials, to potentially substitute these rear earth elements. We already work with 20 customers, some of them are leading players in the hydrogen space,” — Aleksandrs Parfinovics, CEO at Naco Technologies
Naco Technologies provides catalytic and protective coatings for hydrogen system components, such as membranes, anodes, cathodes and bipolar plates. Its technology allows to create complex, nano-composite coatings with outstanding properties (precise thickness control from 5 nm to 5µm, high density, conductivity, and corrosion resistance).
The high-speed magnetron sputtering technology developed by Naco Technologies holds great promise for the green hydrogen industry. It can sputter almost any material at a high rate and combine them into novel nano-structure coatings. PEM electrolyzers and fuel cells are essential components in hydrogen production and storage, but their reliance on noble materials like platinum and iridium makes them expensive and less sustainable. Naco Technologies' innovative catalytic coatings aim to eliminate or significantly decrease the usage of these materials, reducing the cost and environmental impact of hydrogen production. As the world moves toward decarbonization, green hydrogen has emerged as a clean, sustainable energy source with a wide range of applications, from transportation to industry. However, the high cost of production has been a significant barrier to widespread adoption. Naco Technologies' breakthrough technology could help overcome this hurdle, making green hydrogen a more economically feasible option for businesses and consumers alike.
"We are very thankful for this opportunity and look forward to the challenges that lay ahead of us, in order to make the difference and empower the green hydrogen revolution.” — Naco Technologies team
More on EIC Accelerator investments from European Innovation Council.