An InnoEnergy portfolio company since 2014, Atawey continues its remarkable growth trajectory with a €22 million fundraising round to industrialize and scale its hydrogen refueling infrastructure across Europe.
French hydrogen mobility frontrunner Atawey has closed a strategic €22 million equity investment round to fuel its European expansion and scale up its hydrogen refueling station deployments. This new capital injection strengthens Atawey’s role as a trusted infrastructure partner in the energy transition and as a key player in building Europe’s hydrogen mobility ecosystem.
The funding round was led by long-time investor Starquest, alongside ARMOR GROUP, an industrial consortium, and the French State through the France 2030 plan, with support from the Auvergne-Rhône-Alpes Regional Industry Future Fund. Crucially, the round also includes the participation of historical investors who have supported Atawey’s vision over the long term: InnoEnergy, Groupe IDEC, EIFFAGE, CADS, and Imagine H2.
Having joined the InnoEnergy portfolio in 2014, Atawey has matured from a pioneering clean-tech startup into a fast-scaling industrial leader. With 51 stations deployed, two production facilities, 150 employees, and a 113% revenue increase in 2024 (€18 million), the company is now on track to reach profitability by end-2025.
Scaling with Resilience in a Complex Market
Despite turbulence and slower-than-expected growth across the hydrogen sector, Atawey has shown operational resilience and strong commercial traction, supported by a clear strategic model: modular, turnkey solutions, an integrated service offering, and a strong customer-centric approach. The company currently holds €30 million in confirmed order potential, with key clients including HYmpulsion, Brétéché – Groupe Avia Picoty, Hynamics, and GCK Energy.
This capital raise will accelerate Atawey’s strategic roadmap:
- Achieve positive EBITDA by end-2025
- Expand European footprint, with initial deployments in Italy, Spain, and the Benelux
- Deliver scalable, regulation-ready hydrogen refueling stations for heavy-duty mobility and industrial applications
“This fundraising is a major milestone. It allows us to scale up fast while staying true to our core: customer intimacy, technological excellence, and deep commitment to decarbonization,”
says Jean-Michel Amaré, President and Co-founder of Atawey.
Investors Committed to Industrial Impact
This round reflects growing investor confidence in Atawey’s ability to deliver at scale:
- Starquest: “Atawey could become the first European hydrogen player to reach profitability. Its product strategy aligns perfectly with real-world demand.”
- ARMOR GROUP: “This investment supports our ambition to foster industries with both environmental and economic impact.”
- UI Investissement, advising the Auvergne-Rhône-Alpes Regional Industry Future Fund: “Atawey is central to structuring the hydrogen industry and advancing European energy sovereignty.”
- Historical partners including InnoEnergy, Groupe IDEC, EIFFAGE, CADS, and Imagine H2 reaffirm their commitment to Atawey’s long-term industrial development.
- Driving Europe’s Hydrogen Mobility Forward
Atawey will now focus on:
- Strengthening production capabilities in Chambéry and Grenoble
- Expanding integrated services such as maintenance, training (via the Atawey Academy), and ecosystem development
- Delivering safe, high-performance, customizable solutions designed and manufactured in France
By combining technological innovation, sovereign industrial capacity, and deep market understanding, Atawey positions itself at the heart of Europe’s hydrogen infrastructure — enabling a future of low-carbon, resilient, and competitive mobility.
