NewTrace

NewTrace develops advanced electrode and electrolyzer stack technology for cost-competitive green hydrogen production, engineered to make water electrolysis economically viable for industrial deployment. The company's flagship product, VoltaGen, is a high-performance coated cathode for alkaline electrolyzers that reduces specific energy consumption by up to 9.5 kWh/kg of hydrogen, containing no platinum-group metals (PGM-free) or critical raw materials (CRM-free) and fully manufactured in India. VoltaGen is dimensionally compatible with existing alkaline electrolyzer stacks, enabling direct cathode replacement without changes to cell geometry, balance-of-plant, or control systems, and delivering up to ₹60/kg reduction in hydrogen cost with typical payback within 12 months. NewTrace also produces complete alkaline electrolyzer stacks rated at 44.4 kWh/kg with >99.9% purity output, and vertically integrated balance-of-plant systems combining power electronics, fluid management, and real-time control. The company has deployed membrane-less electrolyzers with India's leading hydrogen producers including BPCL and ONGC. Founded in 2020 and headquartered in Bengaluru, India, NewTrace has raised approximately $13 million at the Seed stage from investors including Peak XV Partners, Surge, HDFC Bank, Aavishkaar Capital, Speciale Invest, and Axilor Ventures.