H2SITE raises Series B to scale hydrogen tech by 2026
H2SITE has successfully secured Series B funding, co-led by Hy24 and SC Net Zero Ventures, with additional support from Breakthrough Energy Ventures, Enagas Emprende, Equinor Ventures, Exergon, Ezten, and MassMutual Ventures. This funding will accelerate the deployment of H2SITE’s innovative hydrogen technology, aiming to scale up to multi-ton-per-day reactors by 2026. The company’s solution tackles hydrogen transportation challenges, enhancing accessibility and offering significant cost savings.
H2SITE, a deep-tech innovator in hydrogen separation solutions, has announced the successful closure of its Series B funding round, securing EUR36 million from a diverse consortium of investors. The round was co-led by Hy24, the world’s leading low-carbon hydrogen investment manager, and SC Net Zero Ventures, a venture capital fund focused on climate tech and industrial decarbonization. This funding will support H2SITE in its next phase of growth, accelerating the industrialization and commercialization of its proprietary hydrogen technology.
A Strong Consortium of Strategic and Financial Investors
The Series B funding round saw participation from both new and existing investors, forming a robust and diverse network of stakeholders. Alongside the lead investors Hy24 and SC Net Zero Ventures, the round also attracted MassMutual Ventures, Enagas Emprende, Exergon, and several of H2SITE’s original partners from the Series A funding round. Breakthrough Energy Ventures, Equinor Ventures, and Ezten were involved again, ensuring continued support for H2SITE’s hydrogen separation technology, which is becoming increasingly vital for decarbonizing the industrial sector.
This broad international consortium of investors brings expertise and resources from across the hydrogen value chain, aligning with the unified vision of hydrogen as a key energy vector in the transition to a low-carbon economy. Their support highlights the growing recognition of hydrogen’s potential as a clean energy source, and their collective efforts are expected to significantly accelerate H2SITE’s growth trajectory.
H2SITE’s Hydrogen Separation Technology: Transforming the Hydrogen Economy
Since its inception in 2021, H2SITE has been developing cutting-edge membrane reactor technology capable of efficiently separating hydrogen from complex gas streams. This solution is particularly useful for facilitating the transport of hydrogen in molecules like ammonia and methanol, which are easier to move and store. H2SITE’s technology enables a more scalable, efficient hydrogen supply chain, which is essential for achieving global decarbonization targets.
H2SITE has already built and operated 15 successful projects in Western Europe and is now expanding its reach with large-scale, first-of-a-kind projects in North America, Europe, and the Asia Pacific region. The company’s proven track record in Europe demonstrates the effectiveness and reliability of its technology, and it is now set to further demonstrate its capabilities in international markets.
H2SITE Funding to Accelerate Hydrogen Separation Projects
The Series B funding will enable H2SITE to scale its hydrogen technology and address the challenges of hydrogen supply chain management. With plans to increase hydrogen production capacity to multiple tons per day by 2026, the company is poised to tackle several critical end-use markets, including ammonia cracking, natural hydrogen production in the USA, and maritime decarbonization.
H2SITE’s hydrogen separation technology plays a crucial role in making low-carbon hydrogen more accessible, reliable, and cost-effective. As hydrogen becomes a vital energy carrier in industries such as transportation, manufacturing, and power generation, the ability to produce and transport hydrogen efficiently is paramount. H2SITE’s technology is positioned to help meet these growing demands, facilitating the wider adoption of hydrogen solutions across a range of sectors.
H2SITE Strategic Partnerships and Market Insights
H2SITE’s CEO, Andrés Galnares, emphasized the importance of its new consortium of investors, noting that the group’s deep understanding of hydrogen production, deployment timelines, and market demand will be pivotal in the company’s growth. Galnares said, “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.”
Guillaume Lesueur, Managing Director and Head of Hy24’s Clean Hydrogen Equipment Fund, echoed this sentiment, praising H2SITE’s innovative hydrogen purification technology. He stated, “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: supporting breakthrough equipment providers and scalable technologies.”
In a similar vein, Natalia Ruiz, Managing Partner at SC Net Zero Ventures, expressed her firm’s commitment to supporting the acceleration of energy transition technologies. She highlighted that H2SITE’s innovation is a key example of a solution that addresses a critical challenge in the hydrogen supply chain. “We are proud to support a company that is not only leading technological innovation but also making a tangible impact on the decarbonization of strategic sectors,” she said.
Global Market Growth and Future Outlook
The global ammonia cracking and hydrogen purification markets are expected to grow significantly in the coming years. As the world continues to pursue cleaner energy solutions, the demand for efficient hydrogen transport and utilization technologies will increase. Currently, there are over 1,500 hydrogen projects announced worldwide, a figure that demonstrates the rapid expansion of hydrogen adoption. Key regions such as Europe, Asia-Pacific, and North America are at the forefront of this growth, supported by strong policy frameworks and industrial decarbonization goals.
The development of regional hydrogen hubs and international trade in hydrogen derivatives, such as ammonia, methanol, and other e-fuels, is driving this market expansion. The demand for ammonia cracking and purification systems is expected to rise as these trade networks grow and hydrogen becomes a critical component of global energy systems.
H2SITE’s Role in a Low-Carbon Future
H2SITE is poised to play a critical role in the development of a low-carbon hydrogen economy. The successful closure of its Series B funding round marks an important milestone in the company’s journey to scale up its innovative hydrogen separation technology. With backing from a diverse consortium of investors and strategic partners, H2SITE is well-positioned to execute large-scale projects and contribute to the global energy transition.
As the demand for hydrogen solutions continues to rise, H2SITE’s technology will be essential in addressing the challenges of hydrogen production, transportation, and utilization. By providing a scalable and cost-effective solution, H2SITE is helping to pave the way for a cleaner, more sustainable energy future.
About H2SITE
H2SITE is a deep-tech start-up 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. Founded in 2020 in Bilbao, Spain, 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, the largest 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. Headquartered in Bilbao, the company employs over 60 team members in its unique membrane production facilities located in Loiu, Spain.
About Hy24
Hy24 is the world’s largest clean hydrogen alternative investment fund manager which is fully dedicated to scaling up the global hydrogen economy. Hy24 is investing in large-scale, strategic, clean hydrogen projects and technologies that will unlock the sector’s full potential. Clean hydrogen will be critical in meeting net zero targets along with renewables and electrification. Created in 2021, Hy24 is a 50/50 joint venture between Ardian, a world-leading private investment house ($176bn of Assets Under Management), and FiveT Hydrogen, a clean hydrogen investment enabler launched by former hydrogen executives. Learn more at https://www.hy24partners.com/.
About Suma Capital and SC Net Zero Ventures
Suma Capital is an independent alternative asset manager and a leader in the green transition. The firm focuses its investments on sustainability through three distinct programs: Sustainable Infrastructure, Growth Capital, and Venture Capital. Managing over €1 billion in assets, Suma Capital was founded in 2007 and has grown into a European player with a presence in Barcelona, Madrid, and Paris.
SC Net Zero Ventures, the Climate Tech fund managed by Suma Capital, is an art. 9 SFDR environmental impact fund, committed to catalyzing positive environmental change through strategic and impactful investments in the innovative climate ecosystem. Currently deploying a €150 million fund, SC Net Zero Ventures strategically channels smart capital to secure minority stakes in top-tier scaleups at the forefront of the energy transition, with a primary focus on industry, mobility, and the energy sector.
