EH2 Raises $380M to Become the Hydrogen Unicorn, Fortescue ‘Lead Investor’ in Electrolyser Startup


Electric Hydrogen (EH2), a Massachusetts, US-based manufacturer of electrolysers for critical industries to produce the lowest cost green hydrogen, has raised $380M in Series C equity financing. The round was led by Fortescue Metals Group (Fortescue), Fifth Wall and Energy Impact Partners. It included new strategic investors bp Ventures, Oman Investment Authority, Temasek, Microsoft, United Airlines, New Legacy, Kajima Ventures and Fatima Group. Existing investors Amazon Climate Pledge Fund, Equinor, Mitsubishi Heavy Industries, Rio Tinto, Breakthrough Energy, Capricorn Investment Group, Prelude Ventures and S2G Ventures also participated in the round.

EH2’s electrolysers are the most powerful in the world and can produce green hydrogen at a lower cost than any other technology. This makes EH2’s electrolysers a critical component of the transition to a clean energy economy.

The new funding will accelerate EH2’s manufacturing and deployment plans to meet strong customer demand for electrolysers. EH2 has a team of nearly 300 people with offices in California and Massachusetts. The company was founded in 2020 and has raised more than $600M from financial and strategic investors.


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