BOSTON and SAN FRANCISCO, Sept. 16, 2021 /PRNewswire/ -- Electric Hydrogen today announced a new investment led by Energy Impact Partners and joined by previous investors Breakthrough Energy Ventures, Capricorn Technology Impact Fund, and Prelude Ventures. The funding will help the company accelerate product development and manufacturing scaleup of its proprietary electrolysis technology.
Founded by an experienced team of executives from First Solar and Tesla, Electric Hydrogen is developing industrial-scale solutions that will enable cost-effective decarbonization of hard-to-abate sectors of the global economy such as fertilizer, chemicals, steel, and bulk grid energy storage. The company's equipment will produce clean, carbon free hydrogen gas, an ideal input for the decarbonization of these sectors, from low-cost renewable electricity.
"Using electrolysis to produce clean hydrogen is nothing new," said Shayle Kann, Partner at Energy Impact Partners. "But doing so cost-effectively at industrial scale requires a complete reinvention of the electrolyzer technology stack. Electric Hydrogen has the right team, technology and strategy to unlock hydrogen's promise as a massive decarbonization 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."
Electric Hydrogen is growing its team to meet this generational climate challenge at its hubs near Boston, MA and San Francisco, CA. For more information, visit www.eh2.com
About Electric Hydrogen Founded by experienced renewable energy technologists and backed by committed mission-driven investors, Electric Hydrogen is building solutions to help cost-effectively decarbonize the massive industrial sectors that we all rely on. At Electric Hydrogen we're thinking big and with urgency to decarbonize the physical world. Visit www.eh2.com to learn more.
About Energy Impact Partners Energy Impact Partners, LP (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com