Founded in 2019 in Hefei, Anhui Province, Shenshui Technology positions itself as a full-chain solution provider for key hydrogen-energy materials and components. Its self-developed system integrates catalyst, proton exchange membrane and membrane electrode technologies, and it has already mass-produced 50 μm MEAs while advancing R&D on 25 μm ultra-thin versions. The company’s low-iridium catalyst (SS-IrTi-4001) reduces iridium loading to below 0.6 mg/cm², cutting costs for PEM electrolyzers. Shenshui has delivered more than 40,000 MEAs to hundreds of domestic and international customers, operates a 600 kg/year catalyst line in Hefei and a 40,000 m²/year MEA plant in Shanghai capable of supporting 1 GW projects, and recently opened an international business center in Singapore. Revenue approached ¥100 million in 2025 and management expects new orders to double annually for the next two years. Future plans include building new factories, expanding customer delivery capacity, and launching a Series A+ round to fund further technology iteration and market expansion.

Total raised

$14M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2026