H2SITE secures €36m in Series B funding

H2SITE, a leading deep-tech company focusing on hydrogen separation solutions, has concluded a Series B financing round worth €36 million. This round was co-led by two major investors: Hy24, the foremost global low-carbon hydrogen investment manager through its Clean Hydrogen Equipment Fund, and SC Net Zero Ventures, a climate technology venture capital fund managed by Suma Capital. These investors are focused on decarbonizing industrial and mobility sectors. Additional participants in the funding include new backers like MassMutual Ventures, Enags Emprende, and Exergon. Historical investors from H2SITE's earlier phases, such as Breakthrough Energy Ventures, Equinor Ventures, and Ezten, also participated. This funding highlights the increasing global demand for hydrogen-based technologies aimed at promoting industrial decarbonization and sustainable energy solutions. Legal advisory for Hy24 in this transaction was provided by Pinsent Masons, with key counsel from partner Francisco Aldavero and senior associate Tatiana Fernández de Casadevante.