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FinancingClosedOctober 3, 2023

Electric Hydrogen — green hydrogen production (PEM electrolyzer manufacturing); 1.2 GW factory in Devens, MA

Series C oversubscribed. First green hydrogen unicorn at $1B+ valuation. Lead investors Fortescue, Fifth Wall, Energy Impact Partners. Capital funds 1.2 GW Devens, MA electrolyzer factory.

$380M

Deal Value

1,200MW

Capacity

Hydrogen & Fuel Cells

Technology

MA

Location

Deal Details

Deal Type
Strategic & Growth Capital
Seller / Sponsor
Electric Hydrogen (EH2)
Buyer / Financier
Fortescue (lead), Fifth Wall, Energy Impact Partners; bp Ventures, Oman Investment Authority, Temasek, Microsoft Climate Innovation Fund, United Airlines Sustainable Flight Fund
Deal Value
$380M (Series C)
Stage
Development
ISO/RTO
Multiple

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