H2SITE, a Bilbao, Spain-based deep-tech pioneer in on-site hydrogen (H2) production, raised 12,5M€ in Series A funding.
The round was led by Breakthrough Energy Ventures (BEV), with participation from Equinor Ventures, ENGIE New Ventures, TECNALIA, Capital Riesgo País Vasco and Seed Capital Bizkaia.
Led by Andrés Galnares, CEO, H2SITE is a deep-tech start-up that uses advanced membrane reactor technology to solve the hydrogen transport problem by converting hydrogen carriers with supply chains and separating hydrogen gas blends into fuel cell purity hydrogen.
The funding will accelerate the scale up of the company’s integrated membrane reactor and membrane separation technologies to obtain fuel cell purity hydrogen from ammonia or methanol cracking, or enable hydrogen transportation in existing natural gas infrastructure. H2SITE will also increase its membrane manufacturing capabilities, operating a world unique membrane manufacturing plant in the North of Spain.
The company has shown strong commercial traction in 2022 and has recently been awarded projects to transform ammonia into H2 for the bus fleet in Birmingham, England, biogas into H2 for hydrogen refueling stations in Spain and in France, as well as several separation projects from H2 / natural gas blends in the gas transport infrastructure that are under construction.
FinSMEs
30/06/2022