H2SITE announced that it has completed a second closing of its Series B round, bringing total funding raised in the round to more than €42 million. The new closing adds the EIC Fund and a private investor to H2SITE’s shareholder base. They join Breakthrough Energy Ventures, Suma Capital, Hy24, Crane, Enagás Emprende, Calderion, and CRPV, which participated in the first closing.
H2SITE is a Bilbao, Spain-based industrial company focused on hydrogen production and separation solutions. The company said the new investment will support its next phase of growth as it accelerates industrial deployment and commercialization.
The company has demonstrated more than 50,000 operating hours with its membrane reactors and separators. It has also established advanced manufacturing capabilities in Europe and produces and recycles thousands of palladium-based membranes every year.
H2SITE is now entering a new phase focused on executing large-scale industrial projects and commercializing its solutions globally. The company said its technologies have been validated and are ready for replication across multiple markets and industries.
The EIC Fund will support H2SITE’s manufacturing growth, international development, and entry into key markets, including Asia. Its investment complements previous support through the EIC Accelerator program, which helped H2SITE advance ammonia cracking technology for low-carbon hydrogen production.
That ammonia cracking project is planned for deployment at the Port of Antwerp. H2SITE said the project will support new clean, secure, and competitive hydrogen supply chains for hard-to-abate sectors while strengthening Europe’s energy independence.
Since its founding, H2SITE has developed an industrial technology platform for efficient hydrogen production and separation. The company works with industrial and energy partners to develop, operate, and scale commercial projects across strategic markets in Europe and beyond.
KEY QUOTES:
“This capital increase marks an important milestone in H2SITE’s evolution as an industrial company. The continued support of European institutions and private investors reflects confidence in our ability to transform technological innovation into industrial assets and commercial projects that are scalable, replicable, and bankable. Our focus is now on executing flagship projects that while contributing to Europe’s industrial competitiveness and energy independence.”
Andrés Galnares, CEO of H2SITE
“The EIC Fund joining our shareholder base is a significant milestone and a strong vote of confidence in H2SITE’s ambition to become a global champion from Europe. This support will help us accelerate growth, scale our technology worldwide, and create long-term value for all our stakeholders.”
Javier Cavada, Chairman of H2SITE
“Europe’s energy transition will depend on our ability to move breakthrough technologies from validation to industrial deployment. H2SITE demonstrates how European deep tech companies can develop strategic technologies, build industrial capabilities and strengthen Europe’s energy resilience. We’re proud to support the company as it scales its hydrogen solutions and contributes to the development of more secure and competitive energy systems.”
Hermann Hauser, Board Member of the EIC Fund
