A US electrolyser outfit, founded by executives from Tesla and First Solar, has secured new investment, led by Energy Impact Partners (EIP).
EIP is joined by previous investors in Electric Hydrogen, including Breakthrough Energy Ventures, Capricorn Technology Impact Fund, and Prelude Ventures.
The funding will help Electric Hydrogen “accelerate product development and manufacturing scale-up” of its proprietary electrolysis technology.
EIP partner Shayle Kann said: “Using electrolysis to produce clean hydrogen is nothing new.
“But doing so cost-effectively at industrial scale requires a complete reinvention of the electrolyser technology stack. “
“Electric Hydrogen has the right team, technology and strategy to unlock hydrogen’s promise as a massive decarbonisation driver.”
Electric Hydrogen’s proprietary approach combines advanced material science with high-volume manufacturing techniques to reinvent electrolysis system design and engineering from the ground up.
The result will be the lowest-cost, most scalable source of truly carbon free hydrogen available.
“We’re excited to have Shayle and EIP joining our already amazing investor syndicate,” said Raffi Garabedian, CEO and co-founder of Electric Hydrogen.
“We value all our investors for their insights and experience helping mission-driven companies scale to make a positive impact.
“EIP’s deep energy and industrial relationships will be invaluable as we actively develop the market for industrial-scale renewable hydrogen.”