OCOchem, a Richland, Wash.-based startup in the hydrogen fuel sector, is raising fresh cash, according to a new filing with the U.S. Securities and Exchange Commission.
The company raised roughly $4.5 million, according to the filing. CEO and co-founder Todd Brix declined to comment on the new funding.
The Eastern Washington company, which raised $700,000 in 2018, is developing a solution for transporting hydrogen fuel.
OCOchem has received multiple grants from the U.S. Department of Energy and other agencies. It has partnerships with several universities.
Earlier this month, the Pacific Northwest was selected by the DOE as one of the nation’s seven hydrogen hubs. The coalition will receive about $1 billion of federal funding.
OCOchem was not listed among the hub’s initial partner projects, but could still benefit from the sector’s local momentum.
Related News: Pacific Northwest selected as a national hydrogen hub eligible for up to $1 billion in funding
