Sabancı Ventures, the corporate venture capital fund of Sabancı Holding, one of Türkiye's most prominent industrial conglomerates, has invested $800,000 in SunGreenH2, a Singapore-based green hydrogen equipment manufacturer.
SunGreenH2 was founded in 2020 by Tulika Raj and Saeid Masudy Panah, focusing on sustainability and zero-emission goals. It develops equipment that produces green hydrogen using sustainable energy sources and water, transforming traditional hydrogen production.
Sabancı Ventures became the highest investor, with $800,000 in the company's latest funding round totaling $1.5 million.
SunGreenH2 aims to produce green hydrogen much more environmentally friendly, cost-effectively and efficiently than its competitors in the sector with its patented electrolyzer technology.
The venture, which has a research and development (R&D) center in Australia, aims to expand the mass production of green hydrogen globally, significantly contributing to the zero-emission goals of companies and countries.
Green hydrogen emits zero carbon and can be used in many areas, from mobility to industry and renewable energy, to reduce carbon footprints.
Sabancı Ventures invested in five companies last year, including Zack.ai, Bulutistan, Albert Health, Figopara and Supply Chain Wizard. With the latest investment, the total number of ventures in Sabancı Ventures' portfolio has increased to eight since its establishment in 2020.
Sabancı Holding Strategy and Business Development Group President Gökhan Eyigün said that they are continuing their investments and had started Türkiye's first green hydrogen production last year.
"The SunGreenH2 investment provides an early opportunity for our group to position itself in the green hydrogen market, which is expected to grow 120 times and reach $120 billion by 2030," Eyigün noted.
He added that this investment is also significant as Sabancı Ventures' first venture capital investment in Asia-Pacific.
"With the investment we have made, we have added a new one with Sabancı Ventures to our investments on a global scale on the way to becoming the 'Sabancı of the World.' As Sabancı Group, we continue our investments focused on the 'new economy' and sustainability."
