When was Protonex founded?

Protonex was founded in 2000 and raised its 1st funding round 4 years after it was founded.

Where is Protonex located?

Protonex is headquartered in Southborough, United States. It is registered at Southborough, Massachusetts.

How many employees does Protonex have?

As of Dec 31, 2020, Protonex has 18 employees, reflecting a 125% year-over-year growth in headcount.

Is Protonex a funded company?

Protonex is a funded company, having raised a total of $26M across 9 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Mar 15, 2004.

When was the latest funding round of Protonex?

Protonex's latest funding was a $***** Series D round on Oct 30, 2013, with participation from 0 investor. Its primary sector is Energy Storage Tech. In United States, the Energy Storage Tech sector has seen $583M in funding in 2026 to date.

Where does Protonex rank among its competitors?

Protonex ranks 21st amongst 193 active competitors, of which 38 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Amogy, which secured $15M in Nov, 2025.

Who are the top competitors of Protonex?

Protonex's top competitors include Bloom Energy, Amogy and Intelligent Energy. Among them, Amogy secured the most recent funding round in November, 2025.

Protonex - 2026 Company Profile, Team, Funding & Competitors

Q: Is Protonex an acquired company?

Protonex got acquired by Ballard on Jun 29, 2015.

Company Details

Developer of integrated tactical systems for military and first responders. This company designs and manufactures protective helmet systems, power and data management solutions, and advanced capabilities for enhancing situational awareness and performance in demanding environments. Their offerings include customizable helmet solutions addressing diverse threats, intelligent power and data systems for efficient battlefield operations, and future-focused technologies developed through collaboration and rigorous testing. A dedicated Warfighter Lab supports data-driven design and engineering decisions, ensuring mission-ready technologies are delivered.

Website: protonex.com
Social
Email ID: *****@protonex.com
Registered Address: Southborough, Massachusetts

Key Metrics

Founded Year

2000

Location

Southborough, United States

Stage

Acquired

Total Funding

$26M in 9 rounds

Latest Funding Round

Series D, Oct 30, 2013, $*****

Investors

In-Q-Tel & 8 more

Ranked

21^st among 193 active competitors

Employee Count

18 as on Dec 31, 2020

Similar Companies

Intelligent Energy & 122 more

Exit Details

Acquired by Ballard (Jun 29, 2015)

View Protonex's full profile

Protonex is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Protonex Technology Corporation CIN: 223759804 , United States, Active	Dec 31, 1999	-	18 (As on Dec 31, 2020)	-

Protonex got acquired by Ballard on Jun 29, 2015 at an acquisition amount of $30M. It was facilitated by Cowen and KPMG.

Click here to take a look at Protonex's acquisition in detail

Protonex has raised a total funding of $26M over 9 rounds. Its first funding round was on Mar 15, 2004. Protonex has 9 institutional investors.

Here is the list of recent funding rounds of Protonex:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Oct 30, 2013	7161043	Series D	3157926	5055982	5845201	7832356
Sep 2013	7071619	Series D	1293560	4216784	2721907	In-Q-Tel
Mar 11, 2013	4443546	Conventional Debt	5639617	1839330	9187470	Windsail Capital Group

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View details of Protonex's funding rounds and investors

The founders of Protonex is Paul Osenar.

Here are the details of Protonex's key team members:

Paul Osenar: Founder & CEO of Protonex.

View details of Protonex's Founder profiles and Board Members

Protonex's employee count trend

Protonex has 18 employees as of Dec 20. The total employee count is 125.0% more than what it was in Dec 19. Here is Protonex's employee count trend over the years:

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Top competitors of Protonex include Bloom Energy, Amogy and Intelligent Energy. Here is the list of Top 10 competitors of Protonex, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Bloom Energy 2001, San Jose (United States), Public	Provider of solid oxide fuel cell technology	$973M	SeedFord Partners, TriplePoint Capital & 48 others	71/100
2nd	Amogy 2021, Brooklyn (United States), Series C	Developer of ammonia-to-power systems and ammonia cracking catalysts for decarbonization	$302M	Aramco Ventures, SK Innovation & 33 others	64/100
3rd	Intelligent Energy 2001, Loughborough (United Kingdom), Acquired	Manufacturer of hydrogen fuel cell systems for various industry applications	$213M	GIC, Turquoise & 2 others	62/100
4th	Advent 2006, Boston (United States), Public	Provider of solutions for fuel cell	$8.9M	Connecticut Innovations, Jai Capital & 4 others	62/100
5th	FuelCell Energy 1969, United States, Public	Manufacturer of fuel cell systems for power generation and emissions management	-	Fifth Third Bancorp, Air Quality Management District ... & 5 others	60/100
6th	Blue World 2018, Aalborg (Denmark), Series B	Developer and manufacturer of methanol fuel cell components and systems	$73.6M	Danmarks Eksport og Investeringsfond, Maersk Growth ... & 10 others	59/100
7th	Elcogen 2001, Tallinn (Estonia), Series B	Manufacturer of solid oxide cells and stacks for fuel cells	$103M	SmartCap, Baker Hughes & 9 others	59/100
8th	Watt Fuel Cell 2010, Pittsburgh (United States), Series C	Develops and manufactures solid oxide fuel cell systems	$174M	Generac Power Systems, EQT & 4 others	58/100
9th	Gencell 2011, Petah Tikva (Israel), Public	Fuel cell-based solutions provider	-	TDK Ventures, Migdal Group & 4 others	58/100
10th	Bramble Energy 2015, Crawley (United Kingdom), Series B	Provider of hydrogen-based fuel cells	$57.2M	BGF, HydrogenOne Capital & 20 others	57/100
21st	Protonex 2000, Southborough (United States), Acquired	Developer of integrated tactical systems for military and first responders	$26M	In-Q-Tel, Windsail Capital Group & 7 others	50/100