This Irish Startup Just Raised $2M to Solve a $200B Oxygen Problem

Jan de Vries · 2026-07-23

Nernst Electric, an Irish startup based in Cork, has secured $2 million in Seed funding from Hatch Blue's Blue Revolution Fund. The company is developing a breakthrough on-site oxygen generation technology that could transform how fish farms and heavy industries get their oxygen supply. ### The Problem with Traditional Oxygen Supply Fish farms need a constant, high-volume supply of oxygen to keep fish healthy and growing. Currently, most operations rely on trucked-in liquid oxygen from centralized facilities or expensive on-site PSA/VSA generators. For remote coastal sites, this creates serious logistical headaches and high costs. "For decades, the limitations of conventional on-site oxygen generation have held back productivity across industries including aquaculture, mining, metallurgy, and steelmaking," said Nick Farandos, CEO of Nernst Electric. "Our breakthrough reactor technology removes those barriers." ### How Nernst's Technology Works Nernst's system uses ceramic membranes to separate oxygen directly from ambient air, producing high-purity oxygen (over 99%) right at the farm. The company combines expertise in solid oxide electrochemistry with advanced additive manufacturing to build what they call the next generation of on-site oxygen generation hardware. What makes this different? The company claims their units deliver oxygen at dramatically lower costs and higher energy efficiency than traditional methods. Plus, they require near-zero maintenance, which is a game-changer for remote operations. ### From Accelerator to Seed Funding Nernst first joined Hatch Blue's portfolio in July 2025, receiving pre-Seed funding and entering their accelerator program. "Since Nernst joined our Accelerator Fund, their progress has been fast and convincing," said Caitriona Kelleher, Managing Director of Early Stage Investments at Hatch Blue. "The team came in with a manufacturing concept and built it into a working system ready for its first aquaculture deployment." ### Beyond Fish Farms: Heavy Industry Applications Here's where it gets interesting. The same technology that solves oxygen supply for fish farms has massive potential across heavy industries like mining, steel manufacturing, and the energy sector. These industries rely heavily on high-volume oxygen and face similar supply constraints at large industrial scales. Carsten Krome, Managing Partner at Hatch Blue, put it this way: "Aquaculture is generating commercially attractive innovation at pace. Nernst is a clear example: the platform that solves critical oxygen supply for fish farms has industrial-scale application across heavy industry." ### What's Next for Nernst The company is currently building and deploying its first operational pilot-scale unit to prove the technology under real-world conditions. This $2 million seed round will fund a demonstration unit that, if successful, could unlock commercial customer trials and a Series A funding round. Founded in 2023 by Nick Farandos and Chris Matson, Nernst Electric represents a growing trend of European startups tackling industrial problems with innovative hardware solutions. For fish farmers struggling with expensive, unreliable oxygen supplies, this technology could be a breath of fresh air.