H2SITE Secures €36 Million to Revolutionise Hydrogen Tech
Bilbao, Thursday, 16 January 2025.
H2SITE raised €36 million to expand its hydrogen technology in Europe, promising large-scale growth and impact by 2026 with support from Hy24 and other investors.
A Major Breakthrough in Funding
I’m thrilled to share that H2SITE has just secured a substantial €36 million in Series B funding on 15 January 2025 [1][4]. As someone following the hydrogen technology sector closely, I can tell you this investment marks a significant milestone, with the round being co-led by Hy24 and SC Net Zero Ventures [1]. What makes this particularly exciting is the participation of both new investors including MassMutual Ventures, Enagas Emprende, and Exergon, alongside existing backers such as Breakthrough Energy Ventures and Equinor Ventures [1].
Current Operations and Future Scale
Let me put this into perspective - H2SITE has already successfully operated 15 projects across Western Europe [1], and I’m impressed by how they’ve grown since their founding in 2020 as a spin-off from TECNALIA and Eindhoven University of Technology [1]. The company currently employs over 60 team members and operates unique membrane production facilities in Loiu, Spain [1]. Their goal? To achieve multi-tons per day hydrogen production capacity by 2026 [1], which would represent a significant scaling up of their current operations.
Expanding Horizons
The timing of this investment couldn’t be better. I’m seeing H2SITE actively developing large-scale projects not just in Europe, but also in North America and the Asia Pacific region [1]. As Andrés Galnares, the Founder and CEO of H2SITE, explains, ‘This collective expertise and support will empower us to drive growth and execute large-scale infrastructure projects over the next thirty-six months’ [1]. What particularly excites me is their focus on hydrogen separation and ammonia cracking technologies [1], which could revolutionize how we approach clean energy solutions.