France-based hydrogen technology developer Energy Observer Developments (EODev) has completed a €20m ($23.7m) round featuring hotel operator Accor Group, insurance firm Thélem Assurances and retail agency and services provider Groupe Monnoyeur.
EODev said it had raised an undisclosed amount of seed funding in mid-2019 but did not confirm whether that formed part of the latest round, which included unnamed additional investors and which it described as its first.
Spun off by hydrogen expedition vessel operator Energy Observer in 2019, EODev is developing hydrogen-powered generators and mobile refuelling stations for marine vehicles such as boats.
The station includes a compact hydrogen generator with an output of up to 2 megavolt amperes that has been engineered to a minimalist aesthetic with components that limit noise pollution. EODev will use the funding to manufacture and commercialise its product.
The company has connections to seafood and agricultural logistics services provider Delanchy and buyout investment firm Amfil Technologies, though neither has officially invested.