South Korean startup HydroXpand, a pioneer in anion exchange membrane (AEM) electrolyzer stack development, has successfully secured pre-Series A investment to further advance its next-generation hydrogen technology.

New investors in this round include Korea Investment Accelerator, Company K Partners, and IBK Capital, who join as new shareholders. The company plans to use the newly raised funds to enhance its world-class AEM electrolyzer stack technology and scale up its current 2kW single-stack module to a 30kW unit.

HydroXpand is recognized as one of the few companies globally with full-stack development capabilities for AEM electrolysis systems. It independently develops all core components of the electrolyzer stack, including the anode, cathode, and the AEM itself. AEM electrolysis is widely regarded as a next-generation technology that combines the strengths of first-generation alkaline electrolysis and second-generation proton exchange membrane (PEM) electrolysis systems.

The company was co-founded by CEO Jong-Hyun Hyun, Director Sang-Yong Shin, and Director Min-Gyu Kim, all of whom hold PhD or Master’s degrees in Biological and Chemical Engineering from KAIST (Korea Advanced Institute of Science and Technology). Collectively, they have authored over 10 top-tier research papers in journals such as Applied Catalysis, ACS Energy Letters, and Advanced Energy Materials, placing them among the top 1% of global hydrogen researchers.

Byun Sang-Hoon, an investment manager at Korea Investment Accelerator and the lead investor in this round, commented, “Achieving Net Zero and advancing the hydrogen economy will require both qualitative and quantitative growth in green hydrogen production technologies and manufacturing capacity. We believe HydroXpand possesses one of the world’s most advanced AEM electrolyzer technologies and holds tremendous potential to shift the current gray hydrogen paradigm into a green, sustainable model.”

HydroXpand CEO Jong-Hyun Hyun stated, “Electrolysis is one of the most promising growth technologies within the hydrogen economy. While U.S. and European startups with strong technical capabilities have already raised large-scale funding and grown into unicorns, we are confident that Korean engineers’ technological excellence and execution power can compete on the global stage. We’re determined to prove it.”