Interview With Marko Virkebau, CEO of Stargate Hydrogen
Welcome to another inspiring Founder Spotlight edition featuring Marko Virkebau, the CEO of Stargate Hydrogen. Stargate Hydrogen is a company at the forefront of green hydrogen technology. Stargate Hydrogen was Founded in 2021, aiming to produce affordable green hydrogen to help reduce carbon emissions in challenging sectors such as steelmaking, fertilizer production, and the chemical industry. Let’s hear from Marko about Stargate’s exciting journey.
What inspired you to start Stargate and focus on green hydrogen as a solution to climate change?
Hydrogen has immense potential as an energy carrier, and I saw a unique opportunity to make a significant impact on the global energy landscape. The combination of our team’s experience in the renewable energy sector and the growing business potential of green hydrogen motivated us to establish Stargate Hydrogen.
Our mission is to harness the power of green hydrogen to enable industries to achieve a sustainable, low-carbon future.
Can you describe the first challenges you faced when developing Stardust and how you overcame them?
There are multiple challenges in the development of our flagship electrolyser, Stardust particularly in material selection and manufacturing methods. We meticulously screened and evaluated over 100 different materials, establishing rapid development loops to speed up this process and find the best materials that offered the best combination of durability, conductivity, and cost-effectiveness.
Manufacturing the electrodes posed another challenge; after consulting with industry partners and experts, we evaluated various methods and ultimately chose the most scalable and cost-effective technique. Overcoming these challenges required rigorous research, strategic partnerships, and innovative solutions, resulting in a product that puts Stargate Hydrogen at a sturdy foundation for future advancements.
How does Stargate’s Stardust catalyst differ from other technologies in the market?
Although alkaline electrolysis technology is often described as being free of precious metals, the fact is that a large fraction of alkaline electrolysers are still utilizing electrodes made of ruthenium and iridium which are some of the rarest elements in Earth’s crust. While such electrolysers boast high current densities and high efficiency, their wider adoption is hindered by raw material availability issues.
Nickel-based alkaline electrolysers do not face raw material availability issues but suffer from lower current densities and lower efficiencies. At Stargate, we build upon the best aspects of proven alkaline technology and complement it with breakthrough materials. This results in a new class of electrolysers: ceramics-based alkaline electrolysers, that have high current densities, and high efficiencies, yet have no precious metals. This results in significantly lower hydrogen production costs and makes the electrolysers affordable for the end-users.
What role did your team play in the innovation process, and how did you cultivate such a dedicated team?
Our team has been essential to our innovation process and deserves immense recognition. From research and development to production and customer support, every team member has contributed their expertise and passion. Cultivating this dedication involved fostering a culture of collaboration, continuous learning, and a shared commitment to our mission. We prioritize open communication, provide opportunities for professional growth, and celebrate our successes together.
How do you see the future of green hydrogen evolving, and what part does Stargate play in that vision?
The future of green hydrogen is incredibly promising. As technology advances and more projects take off, green hydrogen will become more cost-competitive and accessible. We see it playing a crucial role in decarbonizing heavy industries.
Stargate Hydrogen aims to be at the forefront by continuing to innovate and deliver high-efficiency electrolysers, expanding our production capabilities, and partnering with key stakeholders to accelerate the adoption of green hydrogen.
What impact do you expect your technology will have on industries like steelmaking, fertilizers, and chemicals?
Stargate’s technology has the potential to impact CO2 emissions directly on the source, the hard-to-abate industries. We estimate that the final amount of CO2 Emission Reduction (tons or equivalent) is around 223 944 Tons of CO2 /year by 2027.
How important has the €42 million in financing been for your development and growth?
The €42 million in financing has been crucial for Stargate Hydrogen’s development and growth, providing the capital needed to scale our operations significantly. This funding has enabled us to expand our team by hiring top talent from the industry, bringing in expertise that drives innovation and efficiency. It has also facilitated an eight-fold increase in our manufacturing capacity planned for 2024, allowing us to meet growing demand and deliver on larger projects.
Moreover, this financial backing strengthens our competitive edge, positioning us to bid for and secure more substantial projects, which are essential for our long-term success and leadership in the electrolyser market.
What do you believe are the key factors that will drive the widespread adoption of green hydrogen?
The key factor for widespread adoption of green hydrogen is the reduction in hydrogen production costs. As we continue to improve efficiency and lower the cost of our electrolysers, green hydrogen will become a more economically viable alternative to traditional energy sources. Additionally, global efforts to phase out fossil fuels and implement carbon pricing will further drive the transition to cleaner energy solutions.
What are the next steps for Stargate in terms of cap table management with its recent funding?
With our recent funding, the next steps for Stargate Hydrogen in terms of cap table management are quite minimal. Our cap table remains straightforward, and we do not foresee any immediate changes needed now.
Looking ahead, what are your long-term goals for Stargate and the broader impact you hope to achieve in the fight against climate change?
Looking ahead, our long-term goals for Stargate Hydrogen are centered on bringing down the cost of green hydrogen by 50% and enabling large-scale industrial use-cases. We aim to achieve this through continuous innovation, improving the efficiency and scalability of our electrolysers. By reducing costs, we can make green hydrogen a viable alternative to fossil fuels, driving widespread adoption across various industries.
Our broader vision is to significantly contribute to the fight against climate change by providing sustainable energy solutions that reduce carbon emissions and foster a cleaner, greener planet. Through our efforts, we hope to accelerate the transition to a sustainable energy future and make a meaningful impact on global climate goals.
