INOCEL, a pioneering player in high-power fuel cell systems for stationary energy generation, land and maritime mobility, validates structuring financing of €64M composed of equity, debt and subsidies. Historical shareholders participated in the fundraising operation.
Saint-Egrève, France – Founded in May 2022, INOCEL is revolutionizing the fuel cell market with high-power solutions presenting levels of efficiency, responsiveness and performance allowing it to compete without concession with diesel and hydrogen combustion engine solutions . The company designs, tests and manufactures a 300 kW fuel cell to decarbonize stationary energy generation applications for heavy land mobility and maritime. The company’s product, designed to be modular and plug & play, integrates numerous innovations, some of which come from the CEA, the leading European research center in fuel cells.
INOCEL is made up of a team of more than 80 people, structured around 2 strategic sites: its product development and testing center located in Saint-Egrève (38) and its production factory of more than 15,000 m2 located in Belfort ( 90) which will eventually have 700 employees. The company will continue to increase its skills and growth this year in terms of industrialization and production. The company has cutting-edge know-how in the design of its systems and associated software management as well as highly experienced teams in the industrialization and production of large series of complex products.
INOCEL benefits from the expertise of its subsidiary GEKO, specialized in the integration and sizing of complex systems linked to its fuel cell.
INOCEL is today an independent company structured around leading private and industrial investors.
This spring 2024, the company is validating structuring steps with confirmation of the performance of its product, the move to industrial scale and obtaining financing of €64M.
INOCEL is pleased to have finalized €64 million in financing at the beginning of 2024, which marks a significant step in the company’s development. This financing will allow the company to:
- Finalize the industrialization of its product;
- Deliver pre-series from 2024;
- Commission the Belfort production line at the end of 2024;
- Internalize your testing tools;
- Ramp up production, with a “Start Of Production” series for the first half of 2025;
- Accelerate its commercial development.
To date, the company has validated the relevance of its strategy, its product and its offer, the numerous commercial contracts currently being discussed and the confidence of investors and banks attests to this.
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