Shanghai Hydrogen Luan Technology Co., Ltd. (hereinafter referred to as "Shanghai Hydrogen Luan") has completed a Series A funding round worth hundreds of millions of yuan, led by Matrix Partners China with participation from Pudong Venture Capital, according to a report.
The proceeds from this round will be used to accelerate the construction of a pilot production line for AEM electrolyzers, the domestic verification of core materials, and team expansion.
According to publicly available information, Shanghai Hydrogen Luan is headquartered in Shanghai and focuses on anion exchange membrane (AEM) water electrolysis hydrogen production technology, covering the entire chain including anion exchange membranes, non-precious metal catalysts, membrane electrode assemblies, electrolysis stack assembly, and system integration.
The company has successively launched single-cell 3.2kW, 30kW, 200kW, and MW-level AEM electrolysis hydrogen production systems.
Leveraging research resources from Shanghai Jiao Tong University, the Dalian Institute of Chemical Physics under the Chinese Academy of Sciences, and Foshan Xianhu Laboratory, the company has pursued full-stack independent research and development. In November 2025, it received an exclusive strategic investment from the CATL ecosystem, and has since won orders from central state-owned enterprises including Huaneng, Three Gorges, China Southern Power Grid, CNOOC, and China General Nuclear Power Group.
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