H2SITE, a hydrogen technology company developing membrane-based hydrogen production and separation solutions, has completed the second closing of its Series B funding round, increasing the total raised to more than €42 million. The latest investment includes the EIC Fund and a private investor, joining existing backers BEV, Suma Capital, Hy24, Crane, Enagás Emprende, Calderion, and CRPV. The funding will support manufacturing expansion, international growth, and large-scale commercial deployment.
Scaling Hydrogen Technologies
H2SITE develops industrial solutions for hydrogen production and separation using proprietary membrane reactor technology. The company has surpassed 50,000 operating hours across its systems while expanding manufacturing capabilities in Europe and producing thousands of palladium-based membranes annually.
The business is now focused on delivering large-scale industrial projects and accelerating commercialization across global energy and industrial markets, including expansion into Asia.
“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,” said Andrés Galnares, CEO of H2SITE.
Expanding Global Operations
The EIC Fund joins H2SITE as a strategic investor after previously supporting the company through the EIC Accelerator programme, which helped advance its ammonia cracking technology for low-carbon hydrogen production. The technology will be deployed at the Port of Antwerp to strengthen hydrogen supply chains and support Europe's energy transition.
“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,” said Javier Cavada, Chairman of H2SITE.
The new funding will accelerate manufacturing growth, international expansion, and the commercialization of hydrogen technologies across Europe and global markets.