H2SITE Secures €36 Million for Hydrogen Production Expansion
Key Ideas
- H2SITE, a hydrogen technology startup based in Spain, has successfully raised €36 million in a Series B funding round to scale up its hydrogen production capacity.
- The funding will support H2SITE's goal of reaching multi tons per day hydrogen production capacity by 2026, with a focus on applications like ammonia cracking, natural hydrogen production, and maritime decarbonization.
- The funding round was co-led by Hy24 and SC Net Zero Ventures, indicating strong support and recognition within the clean hydrogen industry.
- H2SITE's innovative membrane reactor technology for efficient hydrogen separation from gas streams positions it as a key player in building a reliable, scalable, and efficient low-carbon hydrogen economy.
H2SITE, a hydrogen technology startup based in Spain, has secured €36 million in a Series B funding round to enhance its hydrogen production capacity. The company specializes in providing solutions for efficient hydrogen transport and conversion, focusing on separating hydrogen gas blends into fuel cell purity hydrogen. H2SITE's proprietary membrane reactor technology allows for hydrogen separation from gas streams and easy transportation of molecules like ammonia or methanol.
With plans to expand its operations and target various end-use markets, including large-scale ammonia cracking and maritime decarbonization, H2SITE aims to achieve multi tons per day hydrogen production capacity by 2026. The funding round was co-led by Hy24 and SC Net Zero Ventures, along with other notable investors, reflecting strong support and confidence in H2SITE's capabilities.
Andrés Galnares, the Founder and CEO of H2SITE, expressed gratitude for the consortium of partners who understand the challenges of scaling hydrogen production and market demand. The company's strategic focus on ammonia cracking, hydrogen separation, and large-scale infrastructure projects underscores its commitment to driving growth in the clean hydrogen sector.
The recognition from investors like Hy24 and SC Net Zero Ventures highlights the significance of H2SITE's innovative purification technology and its potential to contribute to a sustainable hydrogen supply chain. By leveraging its expertise and funding support, H2SITE aims to play a pivotal role in advancing low-carbon hydrogen technologies for a greener future.