In the heart of California’s clean tech scene, Dr. Alex Ivanenko is not just riding the green energy wave but helping to shape it. As the founder and CEO of HyWatts, Ivanenko is building what he calls the “infrastructure backbone for the AI and electrification era.” His solution? The Power-Plant-in-a-Box, a compact, zero-emission energy system designed to power everything from data centers to EV charging hubs and off-grid real estate developments.
HyWatts, part of TechStars’ Spring 2024 accelerator, reflects Ivanenko’s larger vision for decentralized, scalable, and sustainable energy systems. By integrating solar energy, lithium-ion storage, and advanced hydrogen technology, the startup offers a path forward for sectors struggling with grid limitations and soaring energy costs.
But HyWatts isn’t Ivanenko’s first rodeo. With a PhD in electrochemistry and an MBA to match, his rare blend of technical and business expertise has already made waves in the hydrogen economy. He previously founded HyPoint, a venture-backed startup focused on hydrogen fuel cells for aviation. Under his leadership, HyPoint developed breakthrough technologies, including a turbo air-cooled fuel cell system and high-efficiency membranes, and was ultimately acquired by ZeroAvia in a $100M deal.
Hydrogen Solutions for a Trillion-Dollar Opportunity
After the acquisition, Ivanenko continued his work at ZeroAvia, overseeing rotorcraft and new segment development. Alex Ivanenko’s experience moving between scientific research and executive leadership has made him a respected expert on topics such as decarbonization, energy resilience for power-intensive industries, and the economics of clean energy.
“Hydrogen isn’t just a clean fuel,” Ivanenko says. “It’s an enabling technology. It bridges the gaps where traditional renewables fall short — whether that’s powering an AI-driven data center or delivering off-grid electricity to real estate projects.”
His work is gaining attention at a time when infrastructure is under immense pressure. AI applications are increasing demand on data centers, EV adoption is stressing outdated grids, and real estate developers are scrambling for reliable power sources to stay on schedule. By 2030, EVs and data centers are projected to consume as much energy as 50 million U.S. homes. The current grid cannot keep pace, and modernizing it would require over $2 trillion in upgrades. Ivanenko sees hydrogen not just as an energy solution, but as a business enabler.
Globally, the hydrogen market was valued at $200 billion in 2024 and was projected to exceed $700 billion by 2040, with clean hydrogen infrastructure potentially offsetting over 80 gigatons of CO2 emissions by 2050. As the energy landscape evolves, the role of decentralized, resilient, and clean systems like HyWatts’ Power-Plant-in-a-Box becomes increasingly critical.
He’s also an outspoken advocate for a new kind of entrepreneurship in green tech, one that blends hard science with commercial pragmatism. Ivanenko’s career began in the corporate world, with leadership roles at 3M and Owens Corning, where he honed his skills in market development and scaling innovation.
Today, as he leads HyWatts through its early growth stages, with 11 LOIs (letters of intent) signed and two pilot projects in active phase, Ivanenko is again proving his ability to turn cutting-edge science into market-ready solutions. The company is on track to deploy its first commercial pilot and is already in talks with customers in EV infrastructure, data center development, and microgrid applications.
As governments and industries continue to look for alternatives to fossil fuels, Ivanenko’s story is a powerful reminder of what’s possible when deep technical knowledge meets bold, scalable vision. His journey is one to watch, as is the growing impact of hydrogen in reshaping how we power the future.
Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.
