Calicat (California Catalysts), formerly known as H2U Technologies), the world's premier developer of advanced materials for electrolysis, announced the close of its $3M Series A-2 funding bringing the total amount raised to $18M. The round enjoyed participation from existing investors including Volo Earth Ventures, Dolby Family Ventures, Freeflow Ventures, Hess, Motus Ventures and Jericho Energy Ventures and welcomed new investors Acario Innovation (the corporate venture arm of Tokyo Gas) and MOL Switch (the venture arm of Mitsui OSK Lines).

Calicat is deploying these funds on productization of their non-Iridium catalysts and coatings for PEM electrolysis cells, widely used in the production of Green Hydrogen.