H2SITE, a Loiu-based deep-tech innovator of hydrogen separation solutions, has successfully closed its Series B funding round at €36 million to achieve multi-tons-per-day hydrogen production capacity by 2026 and expand into key markets, including large-scale and decentralised ammonia cracking, natural hydrogen production in the USA, and maritime decarbonisation applications.
H2SITE has secured support from new co-lead investors Hy24, the world’s leading low-carbon hydrogen-focused investment manager, through its Clean Hydrogen Infrastructure Fund, and SC Net Zero Ventures, Suma Capital’s climate tech venture fund targeting industrial and mobility decarbonisation.
Additional backing comes from new investors MassMutual Ventures, Enagás Emprende, and Exergon, alongside existing investors who supported the company’s earlier industrialisation phases: Breakthrough Energy Ventures, Equinor Ventures, and Ezten, FCR (managed by Gestión de Capital Riesgo del País Vasco under the SPRI Group of the Basque Government).
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.”
Founded in 2021 by Andrés Galnares, H2SITE was born in Bilbao as a spin-off from two research and development centers: TECNALIA, the largest private research center in Southern Europe, specialised in membranes and material sciences, and the Eindhoven University of Technology (TUe), focused on process intensification.
H2SITE has been developing a proprietary membrane reactor technology which enables hydrogen separation from gas streams and easy-to-transport molecules, such as ammonia or methanol.
H2SITE has built and operated 15 projects in Western Europe and is now developing large-scale infrastructure first-of-a-kind 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 aims to support the company’s next industrialisation and commercialization milestones, including multi-tons per day hydrogen production capacity in operation by 2026, and addressing several end-use markets such as large scale and decentralised ammonia cracking, natural hydrogen production in the USA and maritime decarbonisation applications.
By tackling the challenge of hydrogen supply chain, separation technologies play a critical role in the suite of innovations required to build a reliable, scalable, 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.”