Electric Hydrogen Raises $198M in Financing

Electric Hydrogen

Electric Hydrogen$198M funding was provided by, a Boston-based decarbonization firm.

Fifth Wall Climate Tech led the round with participation from Silicon Valley Bank and Trinity Capital. Honeywell, Mitsubishi Heavy Industries. Rio Tinto, Breakthrough Energy Ventures. Capricorn Partners, Energy Impact Partners and Prelude Ventures also participated.

The company intends to use the funds to scale-up its high throughput electrolyzer technology and the manufacturing and deployment of demonstration projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications.

Electric Hydrogen was founded by Dave Eaglesham (ex-executive at First Solar), Raffi Garabedian (co-founders), and Dorian West (executive at Tesla). Derek Warnick is an ex-Company Builder at Breakthrough Energy Ventures. It is a deep decarbonization firm that pioneers new technology to produce low-cost, high efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries.



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