What’s the deal? Newtrace, a Bangalore-based deep-tech climate startup founded in 2021, has raised $6.3 million in a pre-Series A round. The company builds advanced electrode and stack technologies designed to make green hydrogen production cheaper and free of rare earth metals.
The product: Its flagship, VoltaGen, is a coated cathode for alkaline electrolyzers that works as a drop-in replacement for existing electrodes. That lets manufacturers upgrade performance without redesigning infrastructure. Newtrace has also built proprietary Alkaline Electrolyzer Systems and commercialised membraneless electrolyzer technology.
What’s the endgame? Newtrace says its technologies can lower green hydrogen costs by up to 60% while bypassing restrictive international supply chains. The company claims to be one of only four firms worldwide capable of building advanced membrane chemistry.
Why now? The raise ties into India’s National Green Hydrogen Mission, which targets 5 million metric tonnes of annual green hydrogen production by 2030. Newtrace showcased its technology before Prime Minister Narendra Modi during National Startup Day 2026.
What’s the money for? The capital will fund pilot-scale manufacturing, customer validation, supply agreements, and expanded engineering. Founded by Prasanta Sarkar and Rochan Sinha, Newtrace runs a 30,000-square-foot centre in Bengaluru with more than 45 engineers and scientists. It expects initial commercial deliveries of VoltaGen within 12 months.
The signal: Green hydrogen remains a small slice of the market — less than 1% of hydrogen produced today is green, at $4 to $10 per kilogram, more than double the cost of grey hydrogen. Most performance losses happen at the electrode level, which is where Newtrace is placing its bet. With the market projected to reach $38.1 billion by 2029, cutting electrolyzer costs is the barrier standing between the sector and scale.
Read more: Indian Defence News
Image credit: Generated with Gemini
