In the global race to decarbonise heavy industry and transition toward cleaner energy systems, green hydrogen has emerged as one of the most promising solutions. However, despite its enormous potential, the widespread adoption of green hydrogen has been hindered by one major obstacle: cost. Producing hydrogen using renewable energy remains significantly more expensive than conventional fossil-fuel-based methods.
This is precisely the problem that Bengaluru-based climate technology startup Newtrace is attempting to solve. Founded in 2021, the deep-tech venture is building advanced electrode and electrolyser technologies designed to make green hydrogen production dramatically more efficient and affordable. By focusing on the most critical component inside hydrogen production systems, the company aims to unlock a key bottleneck in the global clean-energy transition.
The Startup’s Mission
Newtrace operates at the intersection of clean energy, materials science, and electrochemistry. Its mission is simple but ambitious: to reduce the cost of producing green hydrogen so that it can compete with traditional fossil-fuel-derived hydrogen
Hydrogen today is widely used across industries such as fertilizer production, oil refining, and chemical manufacturing. Unfortunately, most hydrogen currently produced globally is “grey hydrogen,” which is generated using fossil fuels and emits large amounts of carbon dioxide.
Green hydrogen, on the other hand, is produced by splitting water into hydrogen and oxygen using renewable electricity from sources like solar or wind. The process uses machines called electrolysers, which perform electrolysis by passing electricity through water. If the electricity used is renewable, the resulting hydrogen is considered completely clean.
Despite its environmental benefits, green hydrogen production is still expensive. One of the biggest reasons for this is inefficiency in electrolyser systems, particularly in the electrode components, where much of the energy loss occurs during electrolysis.
This is where Newtrace’s innovation comes into play.
The Technology: Voltagen Electrodes
At the heart of Newtrace’s technology is Voltagen, a proprietary electrode system designed specifically for alkaline water electrolysers. These electrodes play a crucial role in improving the efficiency of hydrogen production.
Voltagen electrodes are engineered to deliver several key improvements:
- Higher energy efficiency, meaning less electricity is required to produce hydrogen
- Longer operating life, reducing maintenance and replacement costs
- Lower overall production costs for hydrogen
- Compatibility with existing systems, as the technology is designed to act as a “drop-in replacement” for current electrodes used in electrolysers
Because the technology can be integrated into existing hydrogen production infrastructure without redesigning entire systems, it offers a practical path for manufacturers and hydrogen producers to upgrade performance quickly.
The company has also developed membraneless electrolyser technology, further expanding its innovation in hydrogen production systems.
According to the company’s leadership, improvements in materials science and manufacturing processes are essential for reducing hydrogen costs. As CEO and co-founder Prasanta Sarkar explained, the challenge of green hydrogen economics is fundamentally a materials and engineering problem, not just an energy one.
The Founders Behind Newtrace
Newtrace was founded by Prasanta Sarkar and Rochan Sinha, two engineers with deep expertise in electrochemistry, materials science, and industrial engineering.
- Prasanta Sarkar (Co-Founder & CEO) leads the company’s strategic vision and commercialization efforts. He has been vocal about the need to build domestic supply chains for hydrogen technology and make green hydrogen cost competitive globally.
- Rochan Sinha (Co-Founder & CTO) focuses on the technical development of the company’s electrode and electrolyser innovations.
Instead of pursuing software or consumer-tech opportunities — which often dominate startup ecosystems — the founders chose a far more difficult path: building deep-tech hardware in climate technology. This requires years of research, laboratory experimentation, and industrial validation before commercial deployment.
Today, the company operates out of a 30,000-square-foot facility in Bengaluru and employs more than 45 engineers and scientists working on hydrogen technology development.
Funding and Investor Support
Newtrace recently announced a $6.3 million Pre-Series A funding round, marking an important milestone in the company’s growth journey. The round was led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital, highlighting growing institutional interest in climate technology innovation.
The funding round also saw participation from several existing investors, including:
- Peak XV Partners (Surge)
- Aavishkaar Capital
- Speciale Invest
- Micelio Technology Fund
- Angel investors Manish Prataprai Gandhi and Renu Manish Gandhi
Prior to this round, the startup had already raised around $5.7 million in seed funding in 2023, bringing its total funding to roughly $12 million to date.
The new capital will be used to:
- Scale pilot manufacturing of its technology
- Conduct customer validation trials
- Establish supply agreements with industry partners
- Expand engineering and manufacturing capabilities
The company expects to begin initial commercial deliveries of Voltagen electrodes within the next 12 months, marking the transition from research to large-scale commercialization.
Why Green Hydrogen Matters
The importance of startups like Newtrace extends far beyond the company itself. Green hydrogen is increasingly seen as a cornerstone of the global clean energy transition. Unlike electricity, which is difficult to store and transport over long distances, hydrogen can serve as a clean energy carrier for heavy industries that are difficult to electrify.
Key sectors where green hydrogen could play a transformative role include:
- Steel manufacturing
- Fertilizer production
- Oil refining
- Shipping and heavy transportation
- Chemical manufacturing
Recognizing this potential, the Indian government launched the National Green Hydrogen Mission, which aims to make India a global hub for hydrogen production. The initiative includes billions of rupees in incentives to accelerate research, infrastructure, and manufacturing in the sector.
Startups like Newtrace are expected to play a critical role in achieving these ambitions by building the core technologies required to scale hydrogen production.
The Road Ahead
Newtrace now stands at a crucial point in its journey. Having demonstrated the science behind its technology, the company is moving toward industrial-scale manufacturing and commercialization.
If successful, its innovations could help reduce the cost of green hydrogen significantly — making it viable for widespread industrial adoption. That would not only position Newtrace as a major player in the emerging hydrogen economy but could also help India establish itself as a global hub for clean energy technology.
In many ways, the startup represents a broader shift happening across India’s innovation ecosystem: a growing willingness to tackle deep, complex scientific problems that have global impact.
And if Newtrace succeeds, the impact could extend far beyond a single company — helping bring the world one step closer to a cleaner energy future.