H2SITE raises 12,5M€ to scale membrane reactor breakthrough technology

Bilbao, Spain – June 30, 2022 – H2SITE, a deep-tech pioneer in on-site hydrogen (H2) production, announced today that it has raised 12,5 M€ in a Series A funding round led by Breakthrough Energy Ventures (BEV), with participation from Equinor Ventures, ENGIE New Ventures, TECNALIA and institutional investors from the Basque Country (Capital Riesgo País Vasco (EZTEN FCR) and Seed Capital Bizkaia (SCB).

The funding will accelerate the scale up of H2SITE’s integrated membrane reactor and membrane separation technologies to obtain fuel cell purity hydrogen from ammonia or methanol cracking, or enable hydrogen transportation in existing natural gas infrastructure. H2SITE will also increase its membrane manufacturing capabilities, operating a world unique membrane manufacturing plant in the North of Spain.

“While much focus is given to hydrogen generation cost reduction, less attention is given to reduction of hydrogen transport cost. Transporting hydrogen is a complex task, it being a small molecule that is difficult to contain. The current compression, storage, decompression, and transport solutions are both economically and environmentally inefficient”, says Andrés Galnares, H2SITE’s CEO.

Read the article on ENGIE New Ventures