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Calicat
Calicat (California Catalysts, formerly H2U Technologies) uses proprietary AI models and high-throughput physical testing to discover electrocatalysts that lower the levelized cost of hydrogen. Its flagship product is the Amplifier zero-iridium PEM OER catalyst. In 2025 it announced that the Gen 3 version reached 2 V at over 2 A/cm². The business model includes direct sales, joint development agreements and testing as a service. The company spun out of Caltech to commercialize about $120M of DOE-funded JCAP research. It raised a $3M Series A-2 in October 2024, following earlier Series A rounds of $7M (2021) and $11M (2022).
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