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Electric Hydrogen awarded USD 46.3 million from UK Government to stimulate technology advancements
Hydrogen Economy
Mar 14, 2024
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Hydrogen Economy

Hydrogen Economy

Mar 14, 2024

Electric Hydrogen awarded USD 46.3 million from UK Government to stimulate technology advancements

Funding

  • Electric Hydrogen, a startup producing cost-competitive clean hydrogen, was awarded a USD 46.3 million grant from the Department of Energy under the Clean Electrolysis Program of the Bipartisan Infrastructure Law.

  • The company intends to use the funds to accelerate its technology advancements at the gigafactory in Devens, Massachusetts. The gigafactory will have a capacity of 1.2 GW per year and will be one of the world's largest proton exchange membrane (PEM) electrolyzer factories.

  • Analyst QuickTake: In March 2024 , the company raised USD 50 million in funding from Trinity Capital to upscale the manufacturing capabilities of its gigafactory in Devans, Massachusetts.

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