Self-proclaimed 'hydrogen sceptic' raises pre-seed for hydrogen startup: 'It's not one size fits all'

Spiral Hydrogen founder Juri Volodin. Image supplied
30 apr. 2026
12:31
Juri Volodin, a hydrogen founder with a healthy dose of realism about the fuels potential, has just bought in pre-seed money from European VCs for a pilot plant in the Netherlands.

"Is the future of green hydrogen really going to be one size fits all? I don't think so," he tells Impact Loop.

Green hydrogen has had a difficult few years. The sector drew heavy investor interest through 2021 and 2022, but high production costs and slow infrastructure build-out have since cooled the market sharply.

Estonian engineer Juri Volodin has watched the green hydrogen hype wave come and go. And after years working in the sector, he doesn't believe the fuel source will necessarily become the universal energy carrier it was once hyped to be.

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