On Thursday, H2SITE, a deep-tech pioneer of hydrogen separation solutions based in Loiu, Spain, announced it has secured €36M in a Series B funding round from a consortium of investors.
The Spanish company has gained support from new co-lead investors, Hy24 and SC Net Zero Ventures.
Hy24 is a pure-play investment manager focused on low-carbon hydrogen and is backing the company through its Clean Hydrogen Equipment Fund.
Guillaume Lesueur, Managing Director & Head of the Clean Hydrogen Equipment Fund, Hy24, says, “H2SITE has developed an innovative and efficient purification technology that serves a wide range of markets across the hydrogen supply chain. This versatility, combined with the team’s extensive industrial expertise, aligns with the strategic objectives of Hy24’s Clean Hydrogen Equipment Fund.”
SC Net Zero Ventures is a climate tech venture capital fund that concentrates on decarbonising industries and mobility.
Natalia Ruiz, Managing Partner, SC Net Zero Ventures, says, “At SC Net Zero Ventures, we are committed to supporting technology solutions that accelerate the pace towards energy transition. H2SITE’s innovation in hydrogen separation is a key example of that, with a proprietary technology that addresses a key challenge in the hydrogen supply chain.”
The lead investors are joined by new contributors, including MassMutual Ventures, Enagás Emprende, and Exergon, as well as existing partners from the earlier phases of H2SITE’s industrialisation.
The Series B funding will help the company reach its goals for industrialisation and commercialisation.
It includes producing several tons of hydrogen per day by 2026 and serving markets such as ammonia cracking, natural hydrogen production in the USA, and maritime decarbonisation.
Andrés Galnares, Founder and Chief Executive Officer of H2SITE, says, “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.”
“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,” Galnares.
By tackling the challenge of hydrogen supply chain, separation technologies play a critical role in the suite of innovations required to build a reliable, scalable, and efficient low-carbon hydrogen economy.
H2SITE: Transporting Hydrogen
Founded in 2019, H2SITE is a deep tech startup that uses advanced membrane reactor technology to solve the hydrogen transport problem by converting hydrogen carriers with well-known supply chains and separating hydrogen gas blends into fuel cell purity hydrogen.
H2SITE has created on-site hydrogen-producing devices. Long-lasting double-skin inorganic membranes may break hydrogen carriers, extract hydrogen from blends in natural gas infrastructure, or purify it in specialised hydrogen infrastructure.
These membranes are incorporated into process units.
H2SITE’s technology is based on palladium-alloy membranes that are only selective to hydrogen that guarantee 99.97 per cent purity levels suitable for use in fuel-cell or industry.
These membranes are integrated in advanced reactors and separators solutions that recover up to 98 per cent of the hydrogen to offer high efficiency.
Produced in H2SITE’s advanced facilities located in Bizkaia, Northern Spain, these membranes are fabricated at scale.
The membrane assembly line is designed to deliver thousands of units annually, which are crucial in processing thousands of tons of renewable hydrogen, all achieved with very low conversion costs.
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