"The investment will facilitate the next stages in the development of H2SITE's innovative hydrogen technology, which seeks to expand reactor capacity in order to reach an operating capacity of several tonnes per day by 2026”
TECNALIA's deeptech investee company, focused on offering technological solutions to transport hydrogen, has closed this latest investment round to accelerate its growth and scale up its technology
H2SITE has confirmed the close of a Series B funding round for a total of €36 million. This achievement was made possible thanks to the joint leadership between Hy24, the world's leading manager of hydrogen private capital assets , and SC Net Zero Ventures, a fund focused on technologies for the decarbonisation of industry and mobility. Other leading investors have also participated in the transaction, such as MassMutual Ventures, Enagas Emprende, Exergon, Breakthrough Energy Ventures, Equinor Ventures and Ezten.
As a result of this capital injection, H2SITE plans to scale up its technology, developing reactors capable of large-scale hydrogen production, with an operating capacity of several tonnes per day by 2026. It therefore seeks to move forward in the creation of a reliable, sustainable and economically efficient hydrogen supply chain.
Since its creation, H2SITE has developed a proprietary membrane reactor technology to extract hydrogen from gas streams and easily transportable molecules, such as ammonia or methanol. To date, the company has executed 15 projects in Western Europe and is now expanding its presence in key markets in North America, the European Union and Asia-Pacific through the implementation of large-scale single infrastructure projects.
Driving the transition towards a decarbonised economy
The money raised in this funding round will enable H2SITE to address crucial challenges in the hydrogen supply chain, ranging from decentralised solutions to large-scale ammonia cracking processes. Its technology will also contribute to the decarbonisation of strategic sectors, such as the maritime sector.
As a benchmark research and development centre in Europe, TECNALIA has been a major pillar in the growth of H2SITE. Through its support, the company has positioned itself at the forefront of hydrogen technology, consolidating its leadership in the transition to a more sustainable energy model.
With this backing, H2SITE, along with TECNALIA, reaffirms its commitment to the energy transition, offering solutions that not only promote sustainability, but also reduce costs and accelerate the transition to a cleaner and more efficient energy model.
