HPNow

High-Level Overview

HPNow is a Danish cleantech company specializing in on-site, autonomous hydrogen peroxide (H₂O₂) generation systems for sustainable water treatment.[1][3][4] It serves sectors including agriculture, aquaculture, industrial wastewater, municipal drinking water, and even consumer applications like dishwashers, solving the challenges of traditional H₂O₂ supply—such as hazardous transport, high logistics costs, and carbon-intensive production—by enabling decentralized, low-impact electrochemical production that reduces emissions and impurities while improving ROI through cost savings and circular economy benefits.[1][2][3] With strong growth momentum, HPNow has raised $16.27M total funding, including a €5M (~$14.9M) round in September 2023 led by AP Ventures and Evonik Venture Capital, expanded globally from Copenhagen to Europe, Americas, Africa, and Asia, secured partnerships (e.g., BSH for Bosch/Siemens dishwashers), and entered new markets like industrial wastewater and cooling systems.[1][2][4][5]

Origin Story

HPNow was founded in 2015 in Søborg (near Copenhagen), Denmark, emerging from technological breakthroughs by Rasmus Frydendal (CTO) and Arnau Verdaguer (Director of Products) during their studies at the Technical University of Denmark (DTU).[3][4] Recognizing the market potential for on-site H₂O₂ generation to revolutionize water treatment, the duo expanded the team with expertise in technology, production, and markets; early capitalization came from investors like Evonik Venture Capital (initial 2017 investment, followed by a second round) and others.[2][3] Pivotal moments include Evonik's repeat investment highlighting commercial success, entry into agriculture, and recent expansions into industrial and municipal applications, building on proprietary innovations refined through customer feedback.[1][2][3]

Core Differentiators

• Autonomous, Electrochemical On-Site Generation: Produces H₂O₂ safely and sustainably without relying on bulk chemical transport, using electricity for decentralized systems that cut logistics risks and costs—key products include the HPGen A Series.[1][3][4]
• Environmental Superiority: Delivers reduced CO₂ emissions, fewer impurities, and circular economy alignment by minimizing waste in water treatment, outperforming traditional methods.[1][3]
• Broad Market Fit and Scalability: Tailored solutions for agriculture/aquaculture (e.g., Peace Tree Farms), industrial wastewater (high oxygen demand), municipal advanced oxidation, drinking water, and cooling; partnerships like BSH demonstrate versatility even in consumer goods.[2][4]
• Proven Traction and Backing: Backed by industry giants like Evonik (world's largest H₂O₂ producer) for expertise synergy; customers include Envix, MatiTech, and Treasury Wine Estates; continuous R&D driven by market needs.[1][2][4]

Role in the Broader Tech Landscape

HPNow rides the Power-to-X trend in decarbonization, converting renewable electricity into chemicals like H₂O₂ for clean water and sanitation amid global shortages and stricter ESG regulations.[1][2] Timing is ideal with rising demand for sustainable alternatives to fossil-fuel-based production, EU clean water supply security goals, and industrial shifts toward low-carbon processes—market forces like Evonik's PeroxyChem acquisition (€640M in 2019) underscore consolidation in advanced oxidation.[2] It influences the ecosystem by pioneering on-site generation, enabling smaller operators (e.g., farms) to access industrial-grade solutions, fostering innovation in wastewater, agriculture, and consumer sustainability while partnering with incumbents to accelerate adoption.[1][2][3]

Quick Take & Future Outlook

HPNow is poised for accelerated scaling post-2023 funding, likely expanding product lines (e.g., HPGen enhancements) and geographic reach, targeting high-growth areas like municipal water in developing regions and industrial decarbonization.[1][2][4] Trends like electrification of chemicals, AI-optimized electrolysis, and circular water economies will propel it, potentially drawing more corporate VCs; its influence may evolve from niche leader to mainstream enabler, disrupting $10B+ H₂O₂ markets if it sustains ROI proofs and tech iterations. This positions HPNow as a cornerstone in the cleantech water revolution sparked by its DTU origins.[3]