Source: Entrackr
HYDERABAD, August 6, 2023 — The clean energy startup HYLENR, based in Hyderabad, has raised $3 million in a pre-Series A funding round co-led by Valour Capital and Chhattisgarh Investments Limited. Angel investors Karthik Sundar Iyer and Anant Sarda also participated in this funding round.
The company is working on a Low Energy Nuclear Reaction (LENR) technology capable of generating clean, carbon-free heat energy. According to HYLENR, its systems can be applied to industries such as manufacturing, oil and gas, water treatment, and district heating. In this way, LENR seeks to provide an alternative method to thermal energy that is more sustainable and safer than traditional, gross fossil-fuel systems.
Established in 2024, HYLENR has invented its own process and technology and holds two patents: one is for the design of the product and one is for the process. The founders believe their system could revolutionize how we generate heat across industries by making it more eco-friendly and in using resources more efficiently.
The proceeds from this round will assist the company in going from pilot testing to a sales launch. HYLENR intends to use the proceeds to scale manufacturing, enhance its technology, and expand into global markets.
“Our recent lab results show unprecedented energy gain ratios, and this round gives us the momentum to focus on our product roadmap. We have begun early proof-of-concept tests, with several government bodies and large corporations showing interest in our LENR systems. The next phase will focus on scaling manufacturing and expanding globally,” said Siddhartha Durairajan, chairman and managing director of HYLENR.
HYLENR has commenced pilot programs with leading academic institutions and industry players. These pilots allow them to demonstrate that their clean-tech systems will operate in the real world and transparently replace fossil fuel-based systems.
The company is developing various systems depending on the specific use case. Their products range from 7.2 kW units for small-scale or domestic applications to multi-megawatt systems from the company’s factory-direct systems.
The plan is to increase investment in research, build more partnerships, and move the products into global markets.
With a fresh round of funding and increasing interest in LENR, HYLENR is on the trail to realizing clean industrial heat.
The successful $3 million funding round for HYLENR is a step towards furthering the company’s mission to provide clean, carbon-free industrial heat using Low Energy Nuclear Reaction (LENR) technology. The company has secured patents for its technology and is currently participating in pilot programs for its product. Its efforts now focus on scaling production and eventually acquiring global distribution, with a larger $25 million Series A funding round anticipated later this year.
