Whalesbook
HYGEN has sent eight modular industrial hydrogen generation skids from Mangaluru. The company is using its proprietary PEM electrolyzer technology to provide on-site, on-demand hydrogen supply. This capability is crucial for industries requiring high-purity hydrogen, such as lab-grown diamond manufacturers. These companies use ultra-pure hydrogen, often exceeding 99.9999%, in Chemical Vapor Deposition (CVD) processes to grow diamonds and prevent graphite impurities. HYGEN's skids offer an alternative to the logistical complexities and potential contamination risks of traditional cylinder-based delivery.
Founded in 2024, HYGEN is a Singapore and India-based company that secured $6.49 million in seed funding from investors like Transition VC and Cloudberry Pioneer Investments. The company is developing both AEM and PEM electrolyzer technologies, claiming they offer higher output, a rare earth-free design, and lower energy costs, potentially reaching over 99.97% purity without extra purification. This technological push aligns with India's National Green Hydrogen Mission, which aims to make the country a global hub for green hydrogen production and use, targeting 5 million metric tons annually by 2030. The mission seeks to decarbonize heavy industries such as fertilizers, refining, steel, and chemicals.
However, HYGEN operates in a market with strong competition. Global players like Linde, Air Liquide, and Nel ASA, along with Indian companies such as Ohmium International and GreenH Electrolysis, are already active in electrolyzer manufacturing. For HYGEN's modular, decentralized approach to gain widespread adoption, it must prove its cost-competitiveness, particularly in capital expenditure (CAPEX), against these established entities with extensive R&D and manufacturing experience.
The broader green hydrogen market in India, while ambitious, faces development challenges. As of late 2025, most announced green hydrogen capacity (94%) was still in planning stages, with only a small fraction (2.8%) operational. This indicates slow project commissioning and potential demand uncertainty. Securing consistent, long-term offtake agreements for its modular systems might be difficult for industrial buyers still evaluating the economic viability and infrastructure needs of green hydrogen. Furthermore, the price of renewable electricity needed for electrolysis can introduce volatility, impacting HYGEN's cost-competitiveness claims.