H2SITE funding news – Loiu-based H2SITE Secures €36 Million in Series B Round Funding

New investors include Hy24, a top low-carbon hydrogen investment firm, and SC Net Zero Ventures, a fund supporting industrial and mobility decarbonisation.

Additional backing comes from MassMutual Ventures, Enagás Emprende, and Exergon, along with previous investors like Breakthrough Energy Ventures and Equinor Ventures.

Andrés Galnares, Founder and CEO of H2SITE, 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, with a focus on ammonia cracking and hydrogen separation.”

H2SITE has created a special membrane reactor technology that separates hydrogen from gases and easy-to-transport molecules like ammonia and methanol.

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The company has completed 15 projects in Western Europe and is now working on large-scale, unique projects in North America, the EU, and Asia Pacific.

Guillaume Lesueur, Managing Director & Head of the Clean Hydrogen Equipment Fund, Hy24, said: “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. It also highlights Hy24’s continued role as a leading investment catalyst in the hydrogen ecosystem and our dedication to addressing the equipment manufacturing challenge.”

The Series B funding will help the company reach key goals, like producing large amounts of hydrogen daily by 2026. It will also help the company target markets like ammonia cracking, natural hydrogen production in the USA, and reducing emissions in the maritime industry.

By solving challenges in the hydrogen supply chain, separation technologies are essential for creating a reliable and efficient low-carbon hydrogen economy.

Natalia Ruiz, Managing Partner, SC Net Zero Ventures, said: “At SC Net Zero Ventures, we are committed to supporting technology solutions that accelerate the pace towards energy transition. H2SITE’s innovation in hydrogen separation is a key example of that, with a proprietary technology that addresses a key 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.”

About H2SITE

H2SITE was founded in 2021 by Andrés Galnares in Bilbao. It started as a spin-off from two research centers: TECNALIA, the largest private research center in Southern Europe, which specializes in membranes and material sciences, and Eindhoven University of Technology (TUe), which focuses on process improvements.