Hydrogen power company Electric Hydrogen purchasing Ambient Fuels; teaming up with Generate Capital to finance and develop clean hydrogen initiatives.

Electric Hydrogen, a leading advanced electrolyzer manufacturer, has made a significant move in the clean energy sector with its acquisition of hydrogen project developer Ambient Fuels. This strategic collaboration is set to scale the industry faster and provide more ways to serve diverse customers.

At the helm of project development at Electric Hydrogen is Jacob Susman, the former CEO of Ambient Fuels. Susman brings a wealth of experience and expertise to the table, having been instrumental in the development of numerous green hydrogen projects.

The new integration will allow Electric Hydrogen to originate, buy, and sell large-scale clean hydrogen projects. This full-service hydrogen project development and financing platform is a response to the growing demand for clean hydrogen, particularly in the U.S. and EU, where the market for hydrogen technology is accelerating.

In a statement, Raffi Garabedian, CEO and Co-founder of Electric Hydrogen, expressed his belief that the new integration will give Electric Hydrogen more ways to serve its customers. Garabedian's company manufactures powerful electrolyzers that produce green hydrogen from renewable electricity and water, using the company's proprietary high-power proton exchange membrane (PEM) electrolyzer technology in its product, HYPRPlant.

To further bolster this new collaboration, Generate Capital has committed up to $250 million to fund green hydrogen infrastructure. Scott Gosselink, Managing Director at Generate Capital, stated a commitment to accelerating the transition to low-carbon molecules. Generate Capital aims to solve current finance and bankability challenges in the hydrogen industry, reducing LCOH (Levelized Cost of Hydrogen).

The partnership between Electric Hydrogen, Ambient Fuels, and Generate Capital is aimed at helping more hydrogen projects reach Final Investment Decision. Ambient Fuels delivers custom-engineered solutions for green hydrogen projects aimed at supporting the decarbonization of heavy industry and transportation.

In a broader effort to transition to a cleaner energy future, particularly for sectors with difficult-to-abate emissions, this new partnership is a significant step forward. Hydrogen is viewed as one of the key building blocks of this transition, and with the combined resources and expertise of Electric Hydrogen, Ambient Fuels, and Generate Capital, the future of clean energy looks promising.

Generate Capital has also increased its hydrogen project finance solutions globally, offering up to $400 million. This increased commitment to hydrogen projects reflects the growing importance of clean hydrogen in the global energy landscape.

As we move towards a cleaner energy future, partnerships like this one between Electric Hydrogen, Ambient Fuels, and Generate Capital are crucial. They not only demonstrate a commitment to reducing emissions but also pave the way for a more sustainable and prosperous future.

Hydrogen power company Electric Hydrogen purchasing Ambient Fuels; teaming up with Generate Capital to finance and develop clean hydrogen initiatives.