Electrolyser technology for the production of low-cost and clean hydrogen.

Electric Hydrogen is developing electrolyser technology for the production of hydrogen to ultimately replace fossil fuels at global heavy industry which accounts for 30% of global emissions. The startup, which is led by a team with experience at innovative clean energy companies like Tesla (NASDAQ: TSLA) and First Solar (NASDAQ: FSLR), announced a $198 million financing comprising Series B equity and venture debt. (Businesswire)

Fifth Wall Climate Tech led the round, with participation by S2G Ventures, and lenders Silicon Valley Bank and Trinity Capital. Strategic investors included Amazon’s Climate Pledge Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries, and Rio Tinto. Previous investors Breakthrough Energy Ventures, Capricorn Partners, Energy Impact Partners, and Prelude Ventures also participated.

Electric Hydrogen (EH2)

Electric Hydrogen has patented an electrolysis approach for the production of hydrogen from electricity and water while using 100% clean, renewable power.

It is a high throughput electrolyser technology to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications to replace their use of fossil fuels.

The company’s technology would be specially useful for decarbonizing industries not amenable to electrification, like steel, fertilizer and intercontinental energy transport, that account for more than a third of global GHG emissions.

The funding would help scale up EH2’s technology and for developing projects to demonstrate its viability.

“This funding round fuels the next phase of our evolution. We’ve demonstrated our enabling core technology, built an amazing team and now have the capital we need to get our technology out into the world and start curbing emissions,” said Raffi Garabedian, CEO of Electric Hydrogen.

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