Hydrogen Electric corporation purchases Ambient Fuels, forming an alliance with Generate Capital for the purpose of creating and financing environmentally friendly hydrogen projects.
In a significant move towards a cleaner energy future, Generate Capital, Electric Hydrogen, and Ambient Fuels have announced a partnership aimed at revolutionising the hydrogen industry. This collaboration will provide customers with financing and development solutions for hydrogen plants, allowing them to focus on their business outcomes.
At the helm of Generate Capital's hydrogen projects financing is Justin Zorn, the Managing Director, who has pledged a $100 million investment. The partnership continues Generate Capital's focus on hydrogen as a key building block in the transition to a cleaner energy future.
Generate Capital has also made an investment in Ambient Fuels, committing up to $250 million to fund green hydrogen infrastructure. Ambient Fuels specialises in delivering custom-engineered solutions for green hydrogen projects, particularly for heavy industry and transportation decarbonization.
The new partnership will offer up to $400 million in global hydrogen project finance solutions. Raffi Garabedian, CEO and Co-founder of Electric Hydrogen, believes this integration will enable the industry to scale faster.
Electric Hydrogen, a manufacturer of advanced electrolyzers, has acquired hydrogen project developer Ambient Fuels. Electric Hydrogen's productized hydrogen plant, "HYPRPlant," uses proprietary high-power proton exchange membrane (PEM) electrolyzer technology to produce green hydrogen from renewable electricity and water.
With this acquisition and partnership, a full-service hydrogen project development and financing platform is being created. Scott Gosselink, Managing Director at Generate Capital, aims to accelerate the transition to low-carbon molecules.
The partnership will also help solve finance and bankability challenges in the hydrogen industry. Jacob Susman, former CEO of Ambient Fuels, is now leading project development at Electric Hydrogen. Rising demand for clean hydrogen in both the U.S. and EU is accelerating the market for hydrogen technology.
Electric Hydrogen will have the capability to originate, buy, and sell large-scale clean hydrogen projects. The new integration will give Electric Hydrogen more ways to serve a diverse array of customers in the hydrogen industry. The collaboration between the three companies is expected to reduce the levelized cost of hydrogen as a service.
Hydrogen is considered a key building block in the transition to a cleaner energy future, particularly for sectors with difficult-to-abate emissions. This partnership marks a significant step forward in the adoption and scaling of hydrogen technology, paving the way for a more sustainable future.
