As informed, the series B funds will be used for scaling the fuel cell production as well as investing in the development of methanol-driven fuel cell applications for the maritime sector.
The investment from Breakthrough Energy Ventures has been partly funded by Breakthrough Energy Ventures and Breakthrough Energy Ventures-Europe (BEV-E).
In late 2021, the company insourced all the production of the core fuel cell components and is currently in pre-series production. Later this year, Blue World Technologies will launch series production and with further scaling, the company expects to reach a production capacity of 500 MW within a couple of years.
