Skip to content

Equinor Ventures invests in H2Site

(UTC)Last modified

Equinor Ventures is pleased to announce an investment in H2Site, a Bilbao based start-up developing technologies to produce cost-competitive, on-site, renewable H2 for industry and low carbon mobility.

H2site, a deep-tech pioneer in on-site hydrogen (H2) production, announced today that it has raised 12,5 M€ in a Series A funding round led by Breakthrough Energy Ventures (BEV), with participation from Equinor Ventures, ENGIE New Ventures, TECNALIA and institutional investors from the Basque Country (Capital Riesgo País Vasco (EZTEN FCR) and Seed Capital Bizkaia (SCB)).

The funding will accelerate the scale up of H2SITE's integrated membrane reactor and membrane separation technologies to obtain fuel cell purity hydrogen from hydrogen carriers such as ammonia and methanol. H2SITE will also increase its membrane manufacturing capabilities, operating a world unique membrane manufacturing plant in the North of Spain.

“Equinor has high ambitions for clean hydrogen and Equinor Ventures invests in technologies that support the development of novel hydrogen value chains,” says Gareth Burns, head of Equinor Ventures. “H2Site has developed innovative technologies enabling the use of existing natural gas infrastructure to bring clean hydrogen to end users. These solutions have a potential for direct application within Equinor’s future hydrogen projects and I look forward to seeing the technology further developed and deployed,” he adds.