Spanish hydrogen technology company H2SITE has completed the second closing of its Series B funding round, taking the total capital raised to more than €42 million.
The latest investment brings in the EIC Fund and a private investor, joining existing backers including BEV, Suma Capital, Hy24, Crane, Enagás Emprende, Calderion and CRPV.
H2SITE said the funding will support its next phase of growth, including expanding manufacturing capacity, accelerating international development and commercialising its hydrogen production and separation technologies in key markets such as Asia.
The company said it has logged more than 50,000 operating hours with its membrane reactors and separators, established advanced manufacturing capabilities in Europe and produces and recycles thousands of palladium-based membranes each year.
The investment also builds on support H2SITE received through the EIC Accelerator programme, which helped advance its ammonia cracking technology for low-carbon hydrogen production. The technology is set to be deployed at the Port of Antwerp to help establish new hydrogen supply chains for hard-to-abate industries.
“This capital increase marks an important milestone in H2SITE’s evolution as an industrial company,” said CEO Andrés Galnares.
The company said it is now focused on executing large-scale industrial projects and expanding the global deployment of its hydrogen technologies.
