Aternium
- Company typePrivate
- Founded2023
- HeadquartersWilmington, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
Aternium firmographics
Firmographics- Name
- Aternium
- Legal name
- Aternium, Inc.
- Website
- https://aternium.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Aternium industry classification
Industry- Product category
- Clean Hydrogen Production
- NAICS
- Industrial Gas Manufacturing (32512), Other Basic Inorganic Chemical Manufacturing (325180)
- SIC
- Industrial Inorganic Chemicals (2810)
- akta.pro primary industry
- Hydrogen (Industrial & Mobility) (IMAEACAB)
- akta.pro secondary industries
- Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM), Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)
Keywords
Where Aternium is headquartered
LocationHeadquarters
- HQ city
- Wilmington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Aternium business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Technology or R&D, Supply Chain, Operations, Personnel, Marketing or Sales
Revenue model
- Clean Hydrogen Sales: Aternium generates revenue primarily through the sale of clean hydrogen produced via water electrolysis powered by renewable electricity. Hydrogen is sold to industrial customers including chemical plants, data centers, transportation operators, and port facilities in the Mid-Atlantic region. Production is designed to order with no on-site storage, minimizing safety risks and enabling just-in-time delivery.
- Deuterium (Heavy Water) Production & Sales: Simultaneous extraction and sale of deuterium (heavy water/D2O) as a high-value byproduct of the hydrogen production process. Deuterium is a critical material used in semiconductor fabrication, microchips, fiber-optic cables, OLED displays, pharmaceuticals, and nuclear fusion. This addresses a US supply chain vulnerability since heavy water is currently only produced outside the Western Hemisphere.
- Oxygen (Byproduct) Sales: Sale of oxygen produced as a byproduct of the water electrolysis process (up to 190 Mt per day per initial facility).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Clean hydrogen at $5–6/kg |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Aternium product offering
Product offeringCore offering
Aternium produces high-purity clean hydrogen via water electrolysis powered by renewable electricity, while simultaneously extracting deuterium (heavy water) using a patent-pending dual-output process. Initial 60-MW modular facilities generate up to 24 metric tonnes of clean hydrogen, 190 metric tonnes of oxygen, and deuterium per day, targeting industrial customers in the Mid-Atlantic region including chemical plants, data centers, ports, and semiconductor/pharmaceutical buyers of heavy water.
Product overview
Aternium operates as a clean hydrogen and deuterium producer with a differentiated business model that simultaneously generates clean hydrogen and heavy water (deuterium) from water electrolysis. The company is building a network of modular hydrogen production facilities (initial 60-MW sites, future 80-100 MW) powered by renewable electricity. Key products include high-purity clean hydrogen (targeting $5-6/kg production cost), deuterium for semiconductor and pharmaceutical industries, and oxygen as a byproduct. The company integrates Honeywell's Protonium AI/ML platform across its facilities for operational optimization and predictive maintenance. Aternium is an anchor partner in the Mid-Atlantic Clean Hydrogen Hub (MACH2), a multi-state clean hydrogen ecosystem supported by federal funding.
Differentiator
Problem solved
Functional benefit
Products and services
- Clean Hydrogen High-purity clean hydrogen produced via water electrolysis powered by renewable electricity. Initial 60-MW facilities produce up to 24 metric tonnes per day, with future 80–100 MW facilities producing 30–40 metric tonnes daily. Target production cost of $5–6/kg versus California prices of ~$36/kg. Sold to industrial customers including chemical plants, refineries, data centers, transportation operators, and port facilities in the Mid-Atlantic region; delivered via hydrogen tube trailers with no on-site storage.
- Deuterium (Heavy Water) Deuterium (heavy water/D2O) co-produced alongside clean hydrogen using Aternium's patent-pending dual-output water electrolysis process. Used as a critical input material for semiconductor fabrication, microchips, fiber-optic cables, OLED displays, pharmaceuticals, and nuclear fusion. Positioned as the only announced domestic Western Hemisphere source of heavy water, addressing U.S. supply chain vulnerability.
- Oxygen (Byproduct) Industrial-grade oxygen co-produced as a byproduct of water electrolysis. Initial 60-MW facilities generate up to 190 metric tonnes per day; future 80–100 MW facilities will produce 240–320 metric tonnes per day. Sold to industrial gas markets.
Quantifiable outcome
- Hydrogen production cost of $5–6/kg versus ~$36/kg in California — approximately 6x cost reduction
- +4 more outcomes
Companies that use Aternium
Customer profileSegments4 records
Ideal customer profiles4 records
Aternium technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability3 records
Feature3 records
Aternium partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and supporting.
- CH-IV InternationalcoreCH-IV International was engaged as Owner's Engineer for the Mid-Atlantic heavy water/hydrogen project, serving as Aternium's technical representative throughout project development and execution. CH-IV provides independent engineering oversight, interface management, risk mitigation, and alignment across EPC partners. CH-IV is a global engineering and consulting firm providing full spectrum solutions across the energy, infrastructure, and resources industries.
- Siemens EnergycoreSiemens Energy was selected to conduct the Front-End Engineering Design (FEED) study for Aternium's Mid-Atlantic clean hydrogen project, capitalizing on their expertise in hydrogen production technology. Siemens Energy's advanced electrolyzer technology is central to the facility's design. The company previously conducted an Energy System Design (ESD) study for Aternium and will work in collaboration with Kiewit during the FEED phase. Siemens Energy brings expertise in hydrogen production, safety, renewables, compression, transmission, and energy generation.
- Kiewit Engineering Group Inc.coreKiewit Engineering Group was selected to perform the pre-FEED study for Aternium's initial heavy water/hydrogen production facility. Kiewit's deep expertise in energy development and commitment to safety and operational excellence closely align with Aternium's values. Kiewit is one of North America's largest and most respected construction and engineering organizations, with 2024 revenues of $16.8 billion and 31,800 employees.
- HoneywellcoreHoneywell is deploying its Protonium AI/ML platform at Aternium's planned Mid-Atlantic Clean Hydrogen Hub (MACH2) facilities. Protonium uses machine learning to optimize hydrogen plant design and operationsdate, enhance electrolysis efficiency, and integrate digital twins and predictive analytics to streamline energy usage and reduce operational expenditure. Ultrasonic sensors and temperature probes enable microscopic leak detection. Aternium is the first deployer of Honeywell Protonium.
- MACH2 (Mid-Atlantic Clean Hydrogen Hub)coreAternium is an anchor partner in MACH2, a public-private partnership between Delaware, southeastern Pennsylvania, and southern New Jersey designated by the DOE as one of seven regional clean hydrogen hubs. MACH2 secured a $750 million federal award and aims to establish world-class infrastructure for large-scale clean hydrogen production, transportation, and storage across the Mid-Atlantic. Aternium participates in coordinated regional distribution and ecosystem development.
- KBRsupportingKBR was awarded an engineering services contract by Aternium (then First State Hydrogen) in April 2024 to support the feasibility and development of its first clean hydrogen production facility in the U.S. mid-Atlantic region. KBR provides engineering services to study feasibility of developing a clean hydrogen production facility through electrolysis powered by renewable energy.
- GreenbergTraurigsupportingGreenbergTraurig is listed as a partner on Aternium's website, appearing alongside other strategic partners including Siemens Energy, Honeywell, KBR, CH-IV, and Kiewit. The firm likely provides legal counsel to Aternium.
- Siegfriedsupporting
Scale indicators7 records
Recent moves7 records
Aternium competitors and assessment
Company assessmentEmerging players
- H2Pro: H2Pro is an emerging player developing advanced (E-TAC) electrolyzer technology for low-cost green hydrogen. Comparable to Aternium as a similarly early-stage hydrogen technology developer targeting cost-out in electrolytic H2 production.
- Electric Hydrogen: Electric Hydrogen is an emerging PEM-electrolyzer-based green hydrogen developer targeting industrial offtakers at low LCOH. Comparable to Aternium as a similarly staged private US developer focused on cost-competitive electrolytic hydrogen, though without the deuterium co-product angle.
Broad incumbents
- Chart Industries: Chart Industries is a broad incumbent in hydrogen liquefaction, compression, and storage equipment serving the same hydrogen value chain Aternium is building into. Comparable as a hydrogen infrastructure supplier and ecosystem participant, though not a direct hydrogen producer.
- Air Liquide: Air Liquide is a broad incumbent industrial gas major with substantial hydrogen and oxygen production serving refineries, chemicals, and electronics. Comparable to Aternium on the industrial gas / hydrogen / oxygen product overlap and customer base, though Air Liquide also serves heavy water-adjacent specialty gas demand.
- Air Products: Air Products is a broad incumbent and one of the world's largest hydrogen producers with multi-billion-dollar blue and green hydrogen projects. Comparable to Aternium as a hydrogen offtake competitor to the same industrial customer base, though at vastly greater scale and with broader product portfolio.
- Linde: Linde is a broad incumbent industrial gas major producing merchant hydrogen, oxygen, and specialty gases. Comparable to Aternium as a hydrogen and oxygen producer serving chemical, refinery, and industrial customers, with overlapping distribution and customer relationships.
Direct peers
- ITM Power: ITM Power is a direct peer in PEM electrolyzer-based green hydrogen production with multiple UK and EU industrial offtake projects. Comparable to Aternium on technology stack, project-development model, and industrial decarbonization customer thesis.
- Plug Power: Plug Power is a direct peer as a green hydrogen producer and fuel cell developer serving industrial, logistics, and mobility customers — the same end-markets Aternium targets. Both compete on delivered cost of clean hydrogen via PEM-electrolyzer-based projects, making business model and customer overlap highly comparable.
- Nel ASA: Nel ASA is a direct peer offering PEM and alkaline electrolyzer technology plus project development for green hydrogen. Comparable to Aternium on electrolyzer-based H2 production economics and on targeting industrial/mobility offtakers.
- Cummins (Accelera): Accelera by Cummins is a direct peer in electrolyzer manufacturing and hydrogen production systems for industrial customers. Comparable to Aternium on electrolyzer-based H2 stack technology and industrial offtake pursuit, but with a much larger installed base and balance sheet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Aternium social profiles
Digital presenceAternium financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aternium leadership team
Management profileNumber of profiles
Profiles5 records
Aternium funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aternium M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aternium
What does Aternium do?
Aternium produces high-purity clean hydrogen via water electrolysis powered by renewable electricity, while simultaneously extracting deuterium (heavy water) using a patent-pending dual-output process. Initial 60-MW modular facilities generate up to 24 metric tonnes of clean hydrogen, 190 metric tonnes of oxygen, and deuterium per day, targeting industrial customers in the Mid-Atlantic region including chemical plants, data centers, ports, and semiconductor/pharmaceutical buyers of heavy water.
Is Aternium a public or private company?
Aternium is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Aternium founded?
Aternium was founded in 2023. It employs 1 to 10 people.
Where is Aternium based?
Aternium is headquartered in Wilmington, United States, in the North America region.
How does Aternium make money?
Three revenue lines are on record. Clean Hydrogen Sales are the primary driver. The others are deuterium (Heavy Water) Production & Sales and oxygen (Byproduct) Sales.
Who are Aternium's main competitors?
Emerging players on record are H2Pro and Electric Hydrogen. Broad incumbents are Chart Industries, Air Liquide, Air Products and Linde. Direct peers are ITM Power, Plug Power, Nel ASA and Cummins (Accelera).
Does Aternium have an API?
No public API is recorded for Aternium.
What industry is Aternium in?
Aternium's product category is Clean Hydrogen Production. Its primary akta.pro industry code is IMAEACAB, Hydrogen (Industrial & Mobility), with a secondary code of IMAGAHAM, Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems). Its NAICS code is 32512 and its SIC code is 2810.