Scaling Up Green Hydrogen Production: Behind Electric Hydrogen Co.'s Mega Funding

A Bay Area-based green hydrogen startup has secured one of the region's most significant funding deals this year.

Electric Hydrogen Co. announced on Tuesday that they've procured $380 million in a Series C financing round. The San Carlos-based firm, known for creating large-scale electrolyzers that extract hydrogen from water, intends to channel these funds into expanding its manufacturing capabilities, according to a press statement.

Hydrogen plays a pivotal role in various products, from fertilizers to foundational chemicals for several compounds. It's also an alternative to coal for extracting iron from iron ore. However, a major concern is that the bulk of the world's hydrogen is currently sourced from fossil fuels, primarily natural gas and oil. Such hydrogen production leads to the significant release of carbon dioxide, exacerbating global warming.

“50 tons of hydrogen daily!”

In the press statement, EH2's CEO, Raffi Garabedian, emphasized, "To combat global climate issues, we must introduce novel technologies to aid pivotal industries in curtailing their carbon emissions. The electrolyzer systems by Electric Hydrogen are a step in that direction."

The company boasts electrolyzers with a substantial 100-megawatt capacity, capable of generating up to 50 tons of hydrogen daily. EH2 is underway with setting up manufacturing infrastructure at its Massachusetts facility, a key operational hub. They anticipate kickstarting electrolyzer production there in the early months of next year, with plans to ship to their clientele by late 2024.