About Electric Hydrogen
Electric Hydrogen manufactures powerful electrolyzers that produce green hydrogen, a clean alternative to fossil fuels. Their electrolyzers work by using renewable electricity to split water into hydrogen and oxygen, making the process environmentally friendly. Unlike competitors, Electric Hydrogen focuses on large-scale electrolyzer plants, with their 100MW units being significantly larger and more efficient than the typical 5MW units offered by others. This allows for faster construction and commissioning, taking only about three months. The company's goal is to provide cost-effective solutions for industries that heavily contribute to CO2 emissions, such as fertilizer and steel production, enabling them to transition to greener practices and reduce their carbon footprint.
Benefits
Health, dental, vision, & disability insurance
401k match
Unlimited time off
Risks
Competition from established energy companies could pressure EH2's market share and pricing.
Delays in large-scale projects like Green Wilhelmshaven could impact EH2's reputation.
Fluctuations in renewable electricity costs could affect EH2's product cost competitiveness.
Differentiation
EH2's electrolyzers are the world's most powerful, offering unmatched scale and efficiency.
The leadership team has experience from Tesla and First Solar, enhancing credibility and innovation.
EH2's 100MW plant is significantly larger and faster to commission than competitors' offerings.
Upsides
EH2 secured $100M credit to support 100MW electrolyzer plant manufacturing and deployment.
Partnership with Uniper for a 200-MW project boosts EH2's market presence in Europe.
DOE grants and tax credits support EH2's manufacturing scale-up at the Devens gigafactory.
Funding
GRANT
2/29/2024SERIES C
9/30/2023- Kajima Ventures
- New Legacy Group
- Fortescue
- United Airlines Venture
- Energy Impact Partners (EIP)
- Fifth Wall Ventures
- BP Ventures
- Oman Investment Authority
- Prelude Ventures
- Mitsubishi Heavy Industries
- Temasek
- Microsoft Climate Innovation Fund
- Capricorn Partners
- Equinor Ventures
- Fatima Group
- Breakthrough Energy Ventures
- Rio Tinto
- S2G Ventures
- Climate Pledge Fund