SmartCap co-leads €11M investment to Stargate Hydrogen

Ellex in Estonia advised SmartCap Green Fund on its investment to Tallinn-based CleanTech company Stargate Hydrogen, which has successfully raised €11M in series A funding to scale up production of their innovative precious metal-free electrolysers.

Stargate Hydrogen is a leading innovator in the field of sustainable energy solutions. With this funding, Stargate Hydrogen will scale its manufacturing capacity, significantly expand its internal testing capabilities, and establish key strategic partnerships with the leading players in the global green hydrogen ecosystem.

The SmartCap Green Fund initiative aims to propel sustainable innovation by investing in Estonian green technology companies with high growth potential. Operating both as a fund-of-funds and through direct investments, the SmartCap Green Fund focuses on sectors including energy, agriculture, food, transport, logistics, materials, chemicals, and the environment. Its primary objective is to enhance access to equity funding for Estonian greentech companies, aligning with Estonia’s long-term strategic goals and supporting environmental objectives.

SmartCap was advised by Partner Antti Perli, Counsels Rutt Värk and Merlin Liis-Toomela.

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