H2SITE, a firm based in Bilbao, Spain, has successfully closed a €36m ($37m) Series B funding round. The funding, led by co-investors Hy24 and SC Net Zero Ventures, will enable H2SITE to reach its industrialisation and commercialisation goals, including establishing multi-tonnes per day hydrogen production capacity by 2026. The focus will be on addressing ammonia cracking and the natural hydrogen market. H2SITE has been developing membrane reactor technology since 2021, allowing for the separation of hydrogen from gas streams and green molecules like ammonia or methanol. The lead investors, along with others like Breakthrough Energy Ventures, Enagás Emprende, and Equinor Ventures, provide access to a broad international ecosystem for H2SITE in Europe. Andrés Galnares, the Founder and CEO of H2SITE, expressed gratitude for the support from strategic and financial partners who understand the challenges of scaling hydrogen production. The funding will empower H2SITE to execute large-scale infrastructure projects over the next thirty-six months, with a specific focus on ammonia cracking and hydrogen separation. Hy24, one of the lead co-investors, provided financial support through its Clean Hydrogen Equipment Fund. The Managing Director of Hy24, Guillaume Lesueur, praised H2SITE's technologies for aligning seamlessly with the clean hydrogen objectives, highlighting their versatility and the team's extensive industrial expertise.