HomeSpainH2SITE Raises EUR36M in Series B Funding

H2SITE Raises EUR36M in Series B Funding

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H2SITE

H2SITE, a Bilbao, Spain-based hydrogen equipment company, raised €36M in Series B funding.

The round was led by Hy24 and SC Net Zero Ventures with participation from Breakthrough Energy Ventures, Enagas Emprende, Equinor Ventures, Exergon, Ezten, and MassMutal Ventures.

The company intends to use the funds for hydrogen technology deployment, focusing on scaling up to multi tons per day reactors in operation by 2026.

Founded in 2020 and led by CEO and Founder Andrés Galnares, H2SITE uses 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. It emerged as a spin-off from two renowned research and development centers in collaboration with ENGIE New Ventures as its first industrial investor, TECNALIA, a private research center in Southern Europe specializing in membranes and material sciences among other fields, and the Eindhoven University of Technology (TUe), a reference in process intensification.

The company employs over 60 team members in its membrane production facilities located in Loiu, Spain.

FinSMEs

21/01/2025

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