Spain’s H2SITE has closed a €36m ($37m) Series B funding round led by co-investors Hy24 and SC Net Zero Ventures.
The additional financing will help H2SITE meet its next industrialisation and commercialisation milestones, including multi-tonnes per day hydrogen production capacity in operation by 2026 and addressing ammonia cracking and natural hydrogen markets.
The Bilbao-based firm has been developing membrane reactor technology since 2021, which enables hydrogen separation from gas streams and green molecules, such as ammonia or methanol.
Read more:H2SITE deploys ammonia cracker for Ammogen project
The lead investors were joined by Breakthrough Energy Ventures, Enagás Emprende, Equinor Ventures, Exergon, Ezten and MassMutual Ventures. The consortium of investors provides H2SITE with access to a broad international ecosystem of stakeholders in Europe.
“For our third funding round, we have assembled a consortium of strategic and financial partners who deeply understand the challenges of scaling production, hydrogen deployment timelines and market demand,” stated Andrés Galnares, Founder and CEO of H2SITE.
“This collective expertise and support will empower us to drive growth and execute large-scale infrastructure projects over the next thirty-six months, with a focus on ammonia cracking and hydrogen separation,” the CEO added.
Lead co-investor Hy24 provided financial support through its Clean Hydrogen Equipment Fund.
The organisation’s Managing Director and Head of the Fund, Guillaume Lesueur, stated that H2SITE’s technologies align seamlessly with the programme’s strategic objectives, highlighting their versatility and the team’s extensive industrial expertise.
H2 View subscription
If you’re looking to upgrade your H2 View experience, check out our subscription packages and unlock nearly FIVE YEARS of content.
Even with an essential H2 View subscription, you will gain unlimited access to h2-view.com’s archive of content containing over 11,000 stories, features and interviews – as well as a monthly digital and/or print magazine!
Still need more? Our premium package provides access to all of H2 View’s exclusive webinars on demand!
