When was KEYSTATE founded?

KEYSTATE was founded in 2020 and raised its 1st funding round 2 years after it was founded.

Where is KEYSTATE located?

KEYSTATE is headquartered in Bellefonte, United States.

How many employees does KEYSTATE have?

As of Jun 30, 2026, the latest employee count at KEYSTATE is 3.

Is KEYSTATE a funded company?

KEYSTATE is a funded company, having raised an undisclosed amount across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Jun 28, 2022.

When was the latest funding round of KEYSTATE?

KEYSTATE's latest funding was a $***** Grant (prize money) round on Oct 31, 2023, with participation from 0 investor. Its primary sector is Energy Storage Tech. In United States, the Energy Storage Tech sector has seen $3.93B in funding in 2026 to date.

Where does KEYSTATE rank among its competitors?

KEYSTATE ranks 14th amongst 36 active competitors, of which 14 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Aurora Hydrogen, which secured $3M in Mar, 2026.

Who are the top competitors of KEYSTATE?

KEYSTATE's top competitors include Monolith, Modern Hydrogen and HiiROC. Among them, Aurora Hydrogen secured the most recent funding round in March, 2026.

KEYSTATE - 2026 Company Profile, Team, Funding & Competitors

Company Details

Hydrogen production solution. It also provides natural gas synthesis and CO2 capture solution.

Key Metrics

Founded Year

2020

Location

Bellefonte, United States

Stage

Seed

Latest Funding Round

Grant (prize money), Oct 31, 2023, $*****

Investors

Climate Investment

Ranked

14^th among 36 active competitors

Employee Count

3 as on Jun 30, 2026

Similar Companies

Molten Industries & 11 more

View KEYSTATE's full profile

KEYSTATE has raised funding over 2 rounds. Its first funding round was on Jun 28, 2022. KEYSTATE has 1 institutional investor.

Here is the list of recent funding rounds of KEYSTATE:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Oct 31, 2023	9267685	Grant (prize money)	3476258	1531099	1854247	9661662
Jun 28, 2022	4153609	Seed	3197894	3316692	3840930	Climate Investment

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View details of KEYSTATE's funding rounds and investors

KEYSTATE's employee count trend

KEYSTATE has 3 employees as of Jun 26. Here is KEYSTATE's employee count trend over the years:

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Top competitors of KEYSTATE include Monolith, Modern Hydrogen and HiiROC. Here is the list of Top 10 competitors of KEYSTATE, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Monolith 2012, Lincoln (United States), Series D	Manufacturer of carbon black and hydrogen products for various industrial uses	$593M	Cornell Capital, TPG & 11 others	64/100
2nd	Modern Hydrogen 2015, Bothell (United States), Series B	Provider of hydrogen generation solutions	$72.8M	Metaplanet, NextEra Energy & 12 others	62/100
3rd	HiiROC 2019, Hull (United Kingdom), Series A	Provider of solutions for hydrogen generation and storage	$63.2M	CEMEX Ventures, VNG & 22 others	62/100
4th	Molten Industries 2021, Oakland (United States), Series A	Innovating graphite and hydrogen production for batteries and heavy industry	$25M	Fifty Years, Breakthrough Energy & 10 others	61/100
5th	Aurora Hydrogen 2021, Vancouver (Canada), Series A	Provider of high-efficiency clean hydrogen production technology. This technology utilizes existing energy infrastructure and proven components to produce low-carbon hydrogen fuel on-site at industrial scale. The process offers a lower cost alternative to electrolysis and steam reforming with carbon capture. It is designed to meet industrial demands in hard-to-decarbonize sectors such as steel manufacturing and long-distance transportation. The technology uses microwave energy to heat natural gas, resulting in significantly reduced electricity consumption compared to electrolysis. The company's approach mitigates risk by avoiding the need for precious metals, water, new pipelines, or extensive storage and transportation infrastructure.	$13M	Energy Innovation Capital, Oldendorff Overseas Investments GmbH & Co. KG ... & 6 others	57/100
6th	Pure Hydrogen 2007, Sydney (Australia), Public	Developer of batteries	$7.7M	-	54/100
7th	Levidian 2012, Cambridge (United Kingdom), Series B	Provider of solutions for hydrogen generation	$13.5M	Baker Hughes & 2 others	53/100
8th	Hycamite 2020, Kokkola (Finland), Series A	Provider of low-carbon hydrogen and high-quality carbon products for industry	$48.8M	Sojitz, Turret.fi & 9 others	52/100
9th	Element 1 2010, Bend (United States), Series A	Provider of solutions for hydrogen generation	$1.42M	Ardmore Shipping, ONAMI	48/100
10th	Ekona 2017, Vancouver (Canada), Series A	Producer of hydrogen for industrial applications	$69.9M	Baker Hughes, BDC & 8 others	44/100
14th	KEYSTATE 2020, Bellefonte (United States), Seed	Hydrogen production solution	-	Climate Investment	38/100