• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

3v.org

Venture Capital Matters

  • Pitch a Startup
    • Make a Contribution
  • Startup Jobs
  • Market Reports
  • Technologies
    • Technology Events
  • Domain Names for Startups
  • About
    • How to raise venture capital
    • How to raise seed funding from angel investors
    • How private equity and venture capital firms operate
    • What is the difference between private equity and VC funding?
    • What technology trends are considered hot among VC firms?
    • What is elevator pitch?
    • What is startup burn rate?
    • Does failure to launch a startup spell the end of the entrepreneur’s ambitions?
    • How to avoid pitfalls in founding a startup
    • Why do startups fail?
    • What are the traits of successful startup founder?
    • What are startup vanity metrics?
    • Why investing in the next generation of women and diverse entrepreneurs is a crucial part to the success of the tech infrastructure
    • Where are VCs seeing opportunity
    • How do startup valuations work?
    • What is startup accelerator?
    • How to scale an early-stage startup team, how much to pay and how to distribute equity
    • Don’t mix business with friendship: when it comes to building a founding team for a startup, this adage may not always apply
    • What is a social unicorn?
    • Secure Your Startup’s Future: The Importance of Succession Planning
  • Contact

Electric Hydrogen Secures $198M in Financing to Decarbonize Global Industries With Fossil-Free Hydrogen

June 22, 2022 By admin Leave a Comment

Fifth Wall Climate Tech leads round that includes Amazon, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto; investment will support deployments of Electric Hydrogen’s pioneering electrolyzer technology

BOSTON, June 22, 2022 – Electric Hydrogen (EH2) today announced a $198 million financing to support their efforts in making cost competitive fossil-free hydrogen. The round consisted of Series B equity and venture debt from top investors. 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.

There is a growing need for low-carbon #hydrogen to meet #climate goals. We expect the proportion of renewables-based hydrogen to rise as it becomes increasingly competitive, driven by technology improvements and # carbon-related policies. https://t.co/pfOPJFe1lH pic.twitter.com/hQp5tm4NCx

— Boston Consulting Group (@BCG) June 23, 2022

The funding will support the scale-up of EH2’s high throughput electrolyzer technology and the manufacturing and deployment of demonstration projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications.

Hydrogen, when produced in places with abundant and clean electricity, is a promising pathway 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.

EH2’s patented approach to electrolysis – the process of producing hydrogen from electricity and water – is specially designed for the high-volume, low-cost production required to support massive industrial operations. Their systems run on 100% clean energy, working seamlessly with cheap variable renewable power.

“This round represents more than an investment in a company. It’s the biggest step yet toward meeting the urgent challenge of decarbonizing hard-to-decarbonize industries that are both essential to modern life and huge sources of GHG emissions,” said Peter Gajdoš, Partner at Fifth Wall and Co-Lead of the Climate Investment team. “We’ve been searching for the most promising answers to that challenge and found one in EH2. Their team, cross-disciplinary expertise and visionary technology place them at the forefront of the race to make deep cuts in industrial emissions with compelling economics.”

The race is on to make green hydrogen competitive. And Europe is building huge electrolyzers to help https://t.co/lpjS9AaODQ

— CNBC International (@CNBCi) June 24, 2022

Led by cofounders Raffi Garabedian and Dave Eaglesham, former executives at First Solar, Dorian West, former engineering lead at Tesla, and Derek Warnick, former Company Builder at Breakthrough Energy Ventures, Electric Hydrogen’s team brings together expertise in multiple sectors, from engineering and finance to manufacturing.

“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. “Just as importantly, the participation of strategic partners at the forefront of the industries we are poised to decarbonize–energy, mining, logistics, and heavy manufacturing, to name a few–provides vital insight that will facilitate and accelerate our path to market.”

“Through our commitment to The Climate Pledge, Amazon has a goal to be net-zero carbon by 2040,” said Kara Hurst, Vice President for Worldwide Sustainability at Amazon. “We are proud to support Electric Hydrogen’s innovative efforts to scale the green hydrogen economy and to meet the decarbonization needs of hard-to-abate sectors like freight transportation and ocean shipping.”

Rio Tinto Chief Scientist Nigel Steward said, “Rio Tinto is investing in Electric Hydrogen to support the development of emerging technologies with the potential to help decarbonize our operations and supply chains. We produce materials that are increasingly required for our society’s transition to a low carbon future, so it is critical to pursue new ways to work towards net zero in supplying them.”

“The energy transition represents an opportunity for Equinor Ventures to leverage its leading position within carbon management and hydrogen, and to develop and grow new value chains and markets. We are pleased to announce the investment in Electric Hydrogen as they scale up green hydrogen production to GW-scale,” said Gareth Burns, Head of Equinor Ventures.

About Electric Hydrogen
Electric Hydrogen (EH2) is a deep decarbonization company pioneering new technology for low-cost, high-efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries. Their leadership team has revolutionized other clean energy sectors at Tesla and First Solar and they are backed by world-class climate tech investors like Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures. The company also has partnerships with strategic investors that are leaders in their target sectors, including Amazon Decarbonization Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto.

Filed Under: PR Tagged With: electrolyzer, hydrogen

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

DevOps and Agile: Integrating Development and Operations
China’s Use of Golden Shares: From Reducing State Role to Quietly Controlling Tech Giants
Why Amazon Acquired One Medical: Disrupting the Healthcare Industry with Technology-Enabled Care
The End of an Era: Why China is No Longer Viable as the World’s Factory
Cloudflare’s FedRAMP authorization opens up a huge market opportunity in the US government sector
Datadog’s strong financial results for the fourth quarter and fiscal year 2022 provide a solid case for a Buy recommendation
Cisco: Struggling to find new avenues of growth

Market Research Media

Agile Leadership: Leading Agile Teams for Success
Chinese Brands Reach New Heights of Popularity in the West Amid Growing Political Tensions
Unrestricted Streaming: How VPNs Can Enhance Media Consumption Experience
How the world’s biggest companies have built and defended their moats
Virtual Learning Environments: A Game-Changer in Education?
Streaming video, training, and gaming coming together to form a cohesive and diverse media and entertainment ecosystem
Turn Your Story into a Game: The Art of Gamifying Your Plot

Secondary Sidebar

Technologies

Cloudflare Enters Fraud Detection Market with Cloudflare Fraud Detection
Devices utilizing Wi-Fi HaLow technology are gaining momentum
Agile Software Development Tools and Technologies
Continuous Integration and Continuous Delivery in Agile
NuScale Power places first long lead material production order for the manufacture of SMR

Tech Events

Splash User Conference and Partner Summit will take place from April 17 to 20, 2023 in Washington, D.C.
Fiber Connect 2023, August 20-23 2023, Orlando, Florida
International Battery Seminar & Exhibit (IBSE) on March 20-23, 2023 in Orlando, FL
MIT Technology Review’s Future Compute event, April 30 – May 1, 2023, MIT Campus, Cambridge, Massachusetts
13th Annual 2023 State IT Connect Summit in Baltimore, Maryland, from March 6-8, 2023

Footer

Recent Posts

  • African Venture Investment Soars to Record High, Fueled by Tech Startups
  • Pitchly Secures $7 Million Series A Funding for SaaS-Based Data Enablement Solution
  • Agile Project Management: Roles and Responsibilities
  • Candidly, a student debt and savings optimization platform, has raised $20.5 million in a Series B round of financing
  • GameTech Startups Attracting Venture Capital Funding: The Importance of VPN Security
  • Spreetail Secures $208M Funding to Enhance Ecommerce Acceleration Capabilities
  • Metomic secures $20 million in Series A funding to expand its SaaS data security solution in the US
  • The Texas A&M University System is set to create a boom in startups
  • Goose Insurance Services, a Vancouver-based insurance technology company, has recently closed a $4 million Series A funding round
  • Smile Identity, the leading identity verification platform in Africa, has raised $20 million in its Series B funding round

Dossier

Agile Coaching: The Key to Successful Agile Implementation
GameTech 2023, GameDev Conference, March 3, 2023
AI is Disrupting Software: Key Takeaways from Tech Summit 2023
indie Semiconductor has entered into a definitive agreement to purchase GEO Semiconductor
Why UK faces chronic labor shortages

Press Media Release

Webinar: Agile Software Development Metrics and Measurement
VPN Workshop Program Offers Comprehensive Training on VPN Technology
New Technology Job Board Launches to Connect Job Seekers with Top Employers
Media Release: Israelis Protest Proposed Judicial Reforms Amid Knesset Debate
S3H.com to Showcase Cutting-Edge Technology at MWC Barcelona 2023

App Coding

Common Pitfalls in Agile Development and How to Avoid Them
How Much Does It Cost to Build a FinTech App?
The annual GameTech Market 2023 is back and better than ever!
Appy Pie Introduces AI App Generator to Expedite App Development Process
Understanding Data Structures and Algorithms

API Coding

API governance is essential for ensuring the secure and reliable use of APIs
How to re-write a legacy API
How to Build API in Next.js
API Hub for Business Allowing Companies to Launch Custom Hubs in Minutes
How to built a gaming API

Copyright © 2022 3v.org

Technologies, Market Analysis & Market Research and Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT