H2SITE has successfully closed its Series B funding round, raising €36 million from a consortium of strategic and financial investors. This funding will support the company’s next phase of growth and industrialization, focusing on enhancing hydrogen production capabilities.
The funding round was co-led by Hy24, a prominent low-carbon hydrogen investment manager, and SC Net Zero Ventures, which specializes in climate tech investments aimed at decarbonization. The consortium also includes new investors such as MassMutual Ventures, Enagas Emprende, and Exergon, alongside existing investors like Breakthrough Energy Ventures, Equinor Ventures, and Ezten, FCR. This diverse group of stakeholders aligns with H2SITE’s vision of hydrogen as a crucial energy vector for achieving decarbonization targets in Europe and globally.
H2SITE has developed proprietary membrane reactor technology that facilitates hydrogen separation from gas streams and transportable molecules like ammonia and methanol. Since 2021, the company has successfully built and operated 15 projects in Western Europe and is now expanding to large-scale infrastructure projects in North America, the EU, and Asia Pacific.
The Series B funding aims to achieve significant milestones, including the establishment of multi-ton per day hydrogen production capacity by 2026. The company plans to address various end-use markets such as decentralized ammonia cracking and natural hydrogen production in the USA. Andrés Galnares, Founder and CEO of H2SITE, emphasized the importance of this funding round in scaling production and meeting market demand.
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