Hydrogen startup Electric Hydrogen (EH2) said on Tuesday it has bagged USD 380 million in an oversubscribed Series C financing round. The company has raised over USD 600 million since its founding in 2020.
The funding was led by Fortescue, Fifth Wall and Energy Impact Partners and included new investors BP Ventures, Oman Investment Authority, Temasek, Microsoft’s Climate Innovation Fund, the United Airlines Sustainable Flight Fund among others.
Green hydrogen is considered a clean-energy option that can replace fossil fuels. Many large companies are investing heavily in green hydrogen to reduce carbon emissions in their operations, vehicles and manufacturing processes.