Electric Hydrogen just got a big boost! They got $100 million from HSBC, J.P. Morgan, Stifel Bank, and Hercules Capital. This money will help them make and use their cool electrolyzer plants to make green hydrogen.
Based in Natick, MA, Electric Hydrogen is changing big industries like steel, fertilizer, shipping, and aviation by helping them cut down on pollution. Their plants make hydrogen in a super cheap and clean way.
Matt Perlow from HSBC Innovation Banking says they’re happy to help out Electric Hydrogen. They want to support companies doing cool stuff like this and help them grow. Making clean technology is really important to HSBC.
With money from these big banks, Electric Hydrogen is ready to make lots of electrolyzer plants. They’re planning to help their customers meet their goals to cut down on pollution.
Electric Hydrogen is already getting a lot of support. They got $65 million from the Department of Energy and $50 million from Trinity Capital to build their big factory in Devens, MA. They’re also working with The AES Corporation on a huge project.
J.P. Morgan’s Eric Cohen and Stifel Venture Banking’s Nathaniel Stone are both excited to be part of Electric Hydrogen’s journey to make the world cleaner. They think this is just the beginning of something great.
