Greenerity

What Greenerity does

Greenerity GmbH is a German manufacturer of catalyst-coated membranes (CCMs) and membrane electrode assemblies (MEAs), the electrochemical core components inside PEM fuel cells and PEM water electrolysis systems. The company sells B2B to fuel cell and electrolysis system manufacturers serving automotive, aviation, marine, heavy-duty vehicles, trains, stationary power, hydrogen refueling, and industrial hydrogen production end markets. Its product portfolio comprises three configurations — a CCM with three active layers, a five-layer MEA, and a seven-layer MEA integrating the gas diffusion layer — supplied in sheet and roll formats and tailored to customer-specific stack designs, precious-metal loadings, and operating conditions.

Greenerity monetizes through direct enterprise hardware sales; pricing is not publicly disclosed. Products are engineered to order and qualified into customer stack designs, creating engineering-in depth rather than commodity off-the-shelf hardware. Go-to-market is anchored in direct sales supported by trade-fair presence (Hydrogen Technology World Expo, co-exhibited with parent Toray) and a corporate website that serves as primary information hub. Quality and environmental management are certified under ISO 9001:2015 and ISO 14001:2015, both issued April 2023.

The company operates three sites in the Rhine-Main area of Germany: Alzenau-Süd headquarters and 'Gigafactory' for fuel cell and electrolysis component production since 2020; Alzenau-Nord (Palmira), established in 2023 for dedicated electrolysis production and administration; and Hanau, the first production site since 2006, handling coating, dispersion, and lamination. Greenerity is a wholly-owned subsidiary of Japan's Toray Industries, Inc., a diversified conglomerate reporting 48,000 employees, 317 locations, and USD 18 billion in revenue. Toray provides long-term capital, R&D collaboration on next-generation hydrocarbon membranes intended to replace conventional PFSA membranes, and global supply-chain reach. Headcount stands at 51–100, up from approximately 40 at the time of the 2015 acquisition.

Name

Greenerity

Legal name

Greenerity GmbH

Website

https://greenerity.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Greenerity GmbH is a German B2B manufacturer of catalyst-coated membranes (CCMs) and membrane electrode assemblies (MEAs) for PEM fuel cell and PEM water electrolysis system makers, serving automotive, mobility, energy, industrial, and maritime end markets. It is a wholly-owned subsidiary of Japan's Toray Industries, Inc.

Ownership category

akta.pro rank

Product category

Fuel Cell and Electrolysis Components (CCMs and MEAs)

NAICS

Chemical Manufacturing (325), Paint and Coating Manufacturing (325510)

SIC

Unsupported Plastics Film & Sheet (3081), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Separators & Membranes Manufacturing (EUAFABAE)

akta.pro secondary industries

Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM) (EUACALAK), Fuel Cell CHP (SOFC/PEM—Natural Gas/Biogas/Hydrogen) (EUACAKAG)

Keywords

• Catalyst-coated membranes
• Membrane electrode assemblies
• PEM fuel cell components
• PEM electrolysis components
• Hydrogen technology manufacturing

Headquarters

HQ city

Alzenau

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. CCM and MEA Manufacturing and Sales: B2B manufacturing and direct sales of catalyst-coated membranes (CCMs) and membrane electrode assemblies (MEAs) to fuel cell and electrolysis system manufacturers. Products sold as sheets and rolls, with customization capabilities for customer-specific requirements including stack size, design, and operating conditions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Greenerity develops and manufactures catalyst-coated membranes (CCMs) and membrane electrode assemblies (MEAs), the electrochemical core components used in PEM fuel cells and PEM water electrolysis systems. Products are offered in three stack configurations (3-layer CCM, 5-layer MEA, and 7-layer MEA) and supplied as customized sheets or rolls to fuel cell and electrolysis system manufacturers and OEMs for mobility, energy, and industrial hydrogen applications.

Product overview

Greenerity GmbH develops and manufactures membrane electrode assemblies (MEAs) and catalyst-coated membranes (CCMs) — the electrochemical core components of PEM fuel cell and electrolysis systems. The product portfolio comprises three distinct configurations: CCMs with 3 active layers (available in sheet and roll formats), MEAs with 3 active layers plus rim (5 layers total in sheet format), and MEAs with 5 active layers plus rim and GDL (7 layers total in sheet format). These products are supplied to fuel cell system manufacturers and OEMs for applications including PEM electrolysis, PEM fuel cells, hydrogen compressors, and electrochemical sensing.

Differentiator

Problem solved

Functional benefit

Products and services

• Catalyst-Coated Membrane (CCM) - 3 Active Layers Catalyst-coated membrane with 3 active layers (membrane, anode catalyst layer, cathode catalyst layer) for PEM fuel cell and PEM electrolysis applications, supplied in sheet and roll formats to system manufacturers.
• Membrane Electrode Assembly (MEA) - 5 Layers (3 Active Layers + Rim) Membrane electrode assembly with 3 active layers plus rim, totaling 5 layers, designed for PEM fuel cell applications and supplied in sheet format to fuel cell OEMs.
• Membrane Electrode Assembly (MEA) - 7 Layers (5 Active Layers + Rim + GDL) High-performance membrane electrode assembly with 5 active layers plus rim and gas diffusion layer, totaling 7 layers, designed for demanding PEM fuel cell applications including mobility and stationary power.

Quantifiable outcome

• Electrolyzer test center achieved over 15,000 hours of net operation at full load with degradation rate of 3 µV/h
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• H2MARINE Project ConsortiumcoreStrategic or Co-development Partner · 1 July 202542-month EU and Swiss SBFI co-financed project involving 13 partners from science, research, and industry. Goal: design, build, test and validate two PEM fuel cell stacks with 250-350 kW electrical power output specifically designed for maritime applications.
• Toray Industries, Inc.coreStrategic or Co-development PartnerParent company and strategic partner. Toray Group has 48,000 employees across 317 locations with $18 billion USD revenue. Collaboration focuses on integration of hydrocarbon-based membranes that can replace conventional PFSA membranes to improve environmental compatibility of catalyst-coated membranes.
• e.onminorStrategic or Co-development Partner1 MW PEM electrolyzer project collaboration in Hamburg (2012-2013)
• DaimlerminorStrategic or Co-development PartnerPEMFC project for mobile applications focused on catalyst and MEA development (1994-1998), funded by German Federal Ministry of Education and Research (BMBF)

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• W.L. Gore & Associates: Premier supplier of GORE-SELECT proton exchange membranes and MEAs for PEM fuel cells and electrolyzers. Closest direct competitor to Greenerity in the coated-membrane and MEA product category, serving the same fuel cell OEM customers globally.
• Chemours: Manufacturer of Nafion, the dominant PFSA ionomer and membrane used in PEM fuel cells and electrolyzers. Direct competitor to Greenerity in ionomer/membrane supply for the same electrochemical applications.
• Asahi Kasei: Produces Selemion and related hydrocarbon-based ion-exchange membranes for fuel cells and electrolyzers. Direct competitor in the next-generation membrane segment where Greenerity is also developing hydrocarbon alternatives with Toray.
• Johnson Matthey: Major supplier of platinum-group metal catalysts and complete MEA assemblies for PEM fuel cells, with manufacturing scale substantially larger than Greenerity. Direct peer in the catalyst-coated membrane value chain serving fuel cell OEMs.
• 3M: Produces nanostructured thin-film (NSTF) catalyst layers and MEA components for PEM fuel cells. Direct competitor in advanced fuel cell electrode technology targeting automotive and stationary applications.
• Umicore: Catalyst manufacturer and former JV partner (with Solvay) that originally formed SolviCore in 2006, which later became Greenerity under Toray. Continues to supply PGM catalysts and competes in fuel cell catalyst and MEA value chain.
• Solvay: Specialty chemical company that co-founded the original SolviCore joint venture with Umicore in 2006. Produces ionomers and specialty polymers used in PEM fuel cell membranes, making it a direct peer in membrane/ionomer chemistry.

Broad incumbents

• Ballard Power Systems: Leading PEM fuel cell system integrator for heavy-duty mobility (trucks, buses, trains, marine). A downstream customer and adjacent player that sources MEAs from suppliers like Greenerity while competing at the system level.
• Nel ASA: Major PEM and alkaline electrolyzer system manufacturer headquartered in Norway. Downstream OEM customer of MEA/CCM suppliers like Greenerity, and broad incumbent in the hydrogen production equipment market that Greenerity's components enable.
• ITM Power: UK-based PEM electrolyzer system integrator focused on large-scale green hydrogen production. Downstream customer for CCM/MEA components and broader incumbent in the same hydrogen value chain that Greenerity serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greenerity-gmbh
• Xx.com/greenerity

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenerity