Electric Hydrogen announced $100 million in corporate credit financing to support manufacturing and deployment of their innovative 100MW electrolyzer plants, which enable the lowest cost production of green hydrogen. The funding was led by HSBC, with participation from J.P. Morgan, Stifel Bank, and Hercules Capital.
Electric Hydrogen’s complete 100MW plant includes all system components required to turn water and electricity into green hydrogen, including power conversion, gas processing, water treatment and thermal management.
Electric Hydrogen recently announced $65 million in total Department of Energy support and $50 million in equipment financing from Trinity Capital to scale its US manufacturing at its Devens, MA gigafactory, one of the largest electrolyzer factories in the country.
The gigafactory’s first electrolyzer stacks will be shipped later this year to a customer-sited project in southeast Texas. Electric Hydrogen also announced a 1GW framework supply agreement with The AES Corporation last quarter.
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