Amsterdam-based Watermeln, a company specializing in the development and leasing of hydrogen generators, has announced a significant financial boost. The firm secured €3.5 million from the Amsterdam Climate and Energy Fund (AKEF) and BEEQUIP. This funding enables Watermeln to expand its operational capacity and accelerate the production of its sustainable energy solutions, positioning itself as a key player in the green energy market.
In recent developments, Watermeln’s latest funding round follows a prior investment of over €1.5 million from AKEF and Accenda last year. This additional financial support will allow the company to increase its fleet of M-200 units from three to thirteen. Previously, the company focused primarily on providing power for off-grid festivals, charging stations, and construction sites. However, with the latest funding, Watermeln aims to cater to a broader customer base by developing a range of hydrogen units and storage tanks.
Expansion and Development
Watermeln is investing over €4 million in scaling up and acquiring additional hydrogen generators. Co-founder Jeff Wezel highlighted the company’s ambition to make hydrogen generators more accessible and affordable. He emphasized that investor trust enables them to accelerate production and expand their product offerings. The experience gained in providing power for various off-grid events is now being leveraged to enhance the broader market and advance the transition to sustainable energy.
Investor Contributions
The Amsterdam Climate and Energy Fund, established by the City of Amsterdam and managed by e3 Partners, plays a crucial role in this investment. The fund has committed more than €86 million to 35 projects, focusing on energy transition and circularity. Meanwhile, BEEQUIP specializes in leasing solutions for SMEs, offering financing for equipment across various asset classes, including road transport, earthmoving, maritime, and energy.
Founded in 2018 by Jeff Wezel and Jasper Baltus, Watermeln provides temporary green electricity solutions to locations without or with limited grid access. The company’s rental fleet currently includes three WM-200 units, each with a capacity of 200 kW. Co-founder Jasper Baltus stated that their mission is to offer reliable, safe, and affordable hydrogen generators that meet customer demands. He added that the new financing equips them better than ever to deliver on this promise.
Looking ahead, Watermeln aims to further its role in the sustainable energy sector. The company’s focus on developing both smaller and larger hydrogen units and storage tanks is expected to broaden its market reach. With the support of AKEF and BEEQUIP, Watermeln is well-positioned to enhance its market presence and contribute to the global transition to cleaner energy solutions.
