Atawey Secures €22M to accelerate European Expansion of Hydrogen Mobility Infrastructure
Atawey, an InnoEnergy portfolio company since 2014, continues its remarkable growth trajectory with a €22 million fundraising round to industrialize and scale its hydrogen refueling infrastructure across Europe.
Atawey, French hydrogen mobility frontrunner, 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.
Since joining the InnoEnergy portfolio in 2014, Atawey has evolved 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 (reaching €18 million), the company is now on track to achieve profitability by the end of 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 the end of 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
Jean-Michel Amaré, President and Co-founder of Atawey
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.
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