Electric Hydrogen (EH2) raises $50m in financing to support 1.2GW factory development
03/05/24, 4:34 PM
Location
bostonMoney raised
$50 million
Industry
science and engineering
data and analytics
software
energy
Round Type
series c
Investors
Trinity Capital
Trinity Capital has committed $50m in equipment financing to Electric Hydrogen (EH2) to support the development of its US gigafactory in Devens, Massachusetts. The financing will enable EH2 to quickly scale manufacturing equipment and meet customer demand for green hydrogen.
Company Info
Location
boston, massachusetts, united states
Additional Info
Electric Hydrogen (EH2) is a deep decarbonization company pioneering new technology for low-cost, high-efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries. Their leadership team has revolutionized other clean energy sectors at Tesla and First Solar and they are backed by world-class climate tech investors like Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures. The company also has partnerships with strategic investors that are leaders in their target sectors, including Amazon Decarbonization Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto.