• Energy innovation startup ENODA Ltd has successfully closed its Seed investment round

• Lindsay Whitelaw, co-founder of Artemis has joined as Chair

• Chuck Watson, former CEO of Dynergy closed the round and has joined the Board

• Enoda is developing HERA™, a systemic solution for green hydrogen

Photo by Jo Hanley

ENODA Ltd has successfully closed its seed round of capital investment to commercialise its unique technology for lowest cost production of green hydrogen from waste electricity.

Lindsay Whitelaw, co-founder of Artemis Investment Management LLP, led the round and has joined the board as Chair.

Lindsay commented on his appointment, “I’m delighted to lead the seed round and take up the role of Chair to support a team who clearly have a strong vision and desire to deliver a valuable contribution to global decarbonisation.“

Chuck Watson, founder of Dynegy and former Director of Mainstream Renewable Power and Baker Hughes, closed the round and has also joined the board.

Chuck commented on his appointment, “I am excited to be on the ground floor with such a talented group of innovators with a clear vision and pathway to commercialize their unique technology.”

Lindsay and Chuck have a broad experience in innovation and energy.

ENODA was founded by Paul Domjan (CEO), Andrew Scobie (CTO), Jennifer Urquhart (Chief Business Officer), Jacqui Porch (CMO), and Ludwig Limmer (Head of Hardware R&D), all experienced professionals who have collaborated in previous energy technology ventures and have a track record of successful hardware and software innovation and commercialisation.

ENODA’s mission is to deliver technically and economically viable green hydrogen as a critical element of the energy transition, by harmonising electricity and hydrogen thereby crushing the cost of delivered green hydrogen while addressing grid stability challenges posed by renewables adoption.

ENODA seeks to deliver:

• The most cost-effective solution for decarbonising industrial combined head and power (CHP) using green hydrogen, what we term “CHHP”

• Coordinated load, generation and power quality services providing essential electricity system stability affordably and at scale

ENODA is developing HERA™, a systemic solution for green hydrogen. HERA™ is a flexible system of systems designed to solve the problem of decarbonisation in industrial microgrids and CHHP (combined heat hydrogen and power) environments.

CEO Paul Domjan said, “I am delighted to announce a successful seed round with quality investors and new board members who have tremendous value to offer ENODA’s strategic direction as we seek to solve the last significant challenge of decarbonisation. I cannot think of anyone better than Lindsay, with his strong track-record in entrepreneurship and growth, to lead our board. Chuck is a legend in the energy industry as a leader in the transformation of the energy system with both renewables and natural gas. We look forward to getting on with building a technology and a company that delivers on our mission to decarbonise industry through dynamic harmonisation of hydrogen and electricity.”

ENODA are moving to close an A round in Q1 2022 to advance their technology and begin construction of the first HERA™ installations.

About Enoda

ENODA Ltd was established in 2021 by a team committed to solving the big problems of the energy system. There has never been a more critical moment to establish the systems thinking and deploy sustainable infrastructure to ensure a responsible transition to net-zero.

As we move to a zero-carbon future, how, when, and where we consume energy must change as quickly as the way we provide primary power.  ENODA aims to harmonise energy systems, via a platform solution of scalable technologies.

With our unique system architecture HERA™, ENODA seeks to enable the decarbonisation of energy intensive environments through combined heat, hydrogen and power (CHHP). CHHP installations are our first application, with patent pending solutions for optimal production of green hydrogen. 

About Lindsay Whitelaw

Lindsay is a founder of Artemis Investment Management LLP which now manages over £29bn of client funds.  Lindsay was lead manager on the top performing Artemis New Enterprises technology fund and is currently chairman of the Artemis Charitable Foundation. Until he left to co-found Artemis in 1997, Lindsay was a director of the development capital division at Ivory & Sime; and before that an investment executive at 3i.  He is a qualified  chartered accountant.

About Chuck Watson

Chuck Watson is Chairman and co-founder of Twin Eagle Resource Management, a Houston-based energy marketer established in 2010, which focuses on the purchase, distribution and sale of natural gas, coal and electric power.  He was Chairman of Eagle Energy Partners, which he co-founded in 2003 and sold to Lehman Brothers in 2007.  In 2008, Mr. Watson engineered the purchase of Eagle Energy Partners from Lehman Brothers and sale to Électricité de France (EDF).  Mr. Watson was Chairman and CEO of Houston-based Dynegy Inc., an asset based, integrated energy provider.  He established NGC Corp., Dynegy’s predecessor, in 1985 and served as Chairman and CEO until his departure in 2002.  Mr. Watson served on the board of Baker Hughes from 1998 to 2017 and of Mainstream Renewable Power from 2008 to 2021.  Mr. Watson has served as a senior energy advisor to Carlyle Group and The Blackstone Group and currently is on the advisory board for Angeleno Group and Docusign. In 2001, he was inducted into the Texas Business Hall of Fame.