HyGen Industries, Inc., a supplier of clean renewable hydrogen for fuel cell electric vehicles, has filed a public offering to raise $20 million under Regulation A+ Tier 2 – updated under the Jumpstart Our Business Startups (JOBS) Act – as the next phase of its fundraising strategy. The news follows HyGen’s $5.3 million award from the California Energy Commission to build clean renewable hydrogen fueling stations. The company’s equity offering is a chance for accredited and unaccredited investors to take advantage of new crowdfunding rules to support a much-needed clean, renewable hydrogen infrastructure.
The company’s zero-emission stations will service the new line-up of fuel cell electric vehicles (FCEVs) from forward-looking companies such as Toyota, Hyundai, Honda and others. HyGen’s clean and renewable production method involves purchasing renewable electricity and creating hydrogen, via water electrolysis, a process that uses state-of-the-art electrolyzers, at partner gas stations. FCEVs complete the cycle, emitting only water vapor into the atmosphere, contributing zero carbon emissions.
“HyGen is excited to offer the public an opportunity to invest in a carbon-free alternative to fossil fuels for transportation,” says Paul Dillon, CFO of HyGen Industries. “We firmly believe that the JOBS Act provides an ideal opportunity for small investors to become stakeholders in companies generating a positive impact. Our offering allows millions across the U.S., and the world, the chance to vote with their pocketbook for cleaner transportation.”
Renewable energy is intermittent. Clean energy companies often generate more power than they can sell to the grid, and storage of this excess electricity has not traditionally been feasible at scale. HyGen takes that energy, stores it as hydrogen and adds value, selling the stored energy (hydrogen) as a transportation fuel. In HyGen’s model, renewable energy companies will be able to sell their excess energy to power cars. Marginal renewable energy projects become viable, increasing the renewable portfolio.
Progress Generates Huge Market Potential as California Welcomes Hydrogen Fleets
Zero-emission hydrogen fuel cell vehicles are becoming established in California. Los Angeles already has a viable hydrogen station network. HyGen is adding to this nascent infrastructure, enabling more people to make the switch away from polluting fossil fuels. All fuel from HyGen is 100% carbon-free and renewable. Recent projections from the California Air Resources Board indicate that California’s FCEV fleet will grow to 13,500 by the end of 2019 and 43,600 by the end of 2022.
Thanks to the JOBS Act, millions of Americans can get in on the ground floor of the first pure-play investment opportunity in clean renewable hydrogen. Available on StartEngine, a premiere equity crowdfunding platform, accredited and unaccredited investors alike can purchase shares and contribute to the building of clean, renewable hydrogen stations across California and take part in fueling the next generation with HyGen Industries.
For more information about HyGen Industries and their equity offering, interested individuals can visit: http://www.startengine.com/startup/HyGen.