Electric Hydrogen valuation, funding and investors
Electric Hydrogen works in clean hydrogen production solutions, based in Harvard, United States. Founded in 2020, it has about 294 employees.
- Last round
- Series C · $380M · Oct 2023
- Valuation at last round
- $1.00B
- Headcount
- 294 · down
- Grade
- C
- Founded
- 2020
Electric Hydrogen valuation today
VCMC values Electric Hydrogen at $470M today, with a range of $228M to $1.5B and a grade of C. The valuation starts from its last funding round, a Series C round in Oct 2023.
Valuation by date (86 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2020 | $16.3M | $5.94M – $44.8M | $18.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2020 | $16.5M | $5.99M – $45.2M | $18.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2020 | $16.6M | $6.05M – $45.6M | $18.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2020 | $16.8M | $6.10M – $46.0M | $18.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2020 | $16.9M | $6.16M – $46.4M | $18.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2020 | $17.1M | $6.21M – $46.9M | $19.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jul 2020 | $17.2M | $6.27M – $47.3M | $19.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2020 | $17.4M | $6.33M – $47.7M | $19.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2020 | $17.5M | $6.38M – $48.2M | $19.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2020 | $17.7M | $6.44M – $48.6M | $19.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2020 | $17.9M | $6.50M – $49.0M | $19.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2020 | $18.0M | $6.56M – $49.5M | $20.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2021 | $18.2M | $6.62M – $49.9M | $20.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2021 | $18.3M | $6.68M – $50.4M | $20.4M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2021 | $18.5M | $6.73M – $50.8M | $20.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2021 | $18.7M | $6.79M – $51.3M | $20.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2021 | $18.8M | $6.85M – $51.7M | $20.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2021 | $19.0M | $6.92M – $52.2M | $21.0M (+10%) | before first round | – | unknown | D | 0% |
| 24 Jun 2021 | $134M | $87.6M – $365M | $240M (+80%) | after a round | – | unknown | C | 0% |
| 1 Jul 2021 | $135M | $87.6M – $365M | $240M (+78%) | after a round | – | unknown | C | 0% |
| 1 Aug 2021 | $142M | $87.6M – $365M | $240M (+69%) | after a round | – | unknown | C | 0% |
| 1 Sep 2021 | $149M | $87.6M – $365M | $240M (+61%) | after a round | – | unknown | C | 0% |
| 1 Oct 2021 | $157M | $87.6M – $365M | $240M (+53%) | after a round | – | unknown | C | 0% |
| 1 Nov 2021 | $165M | $87.6M – $365M | $240M (+46%) | after a round | – | unknown | C | 0% |
| 1 Dec 2021 | $173M | $87.6M – $365M | $240M (+39%) | after a round | – | unknown | C | 0% |
| 1 Jan 2022 | $182M | $87.6M – $365M | $240M (+32%) | after a round | – | unknown | C | 0% |
| 1 Feb 2022 | $191M | $87.6M – $365M | $240M (+26%) | after a round | 54 | unknown | C | 0% |
| 1 Mar 2022 | $200M | $87.6M – $365M | $240M (+20%) | after a round | 54 | unknown | C | 0% |
| 1 Apr 2022 | $210M | $87.6M – $365M | $240M (+14%) | after a round | 54 | unknown | C | 0% |
| 1 May 2022 | $220M | $87.6M – $365M | $240M (+9%) | after a round | 54 | unknown | C | 0% |
| 1 Jun 2022 | $232M | $87.6M – $365M | $240M (+4%) | after a round | 54 | unknown | C | 0% |
| 23 Jun 2022 | $783M | $551M – $1.7B | $1.2B (+50%) | after a round | 54 | unknown | B | 0% |
| 1 Jul 2022 | $790M | $551M – $1.7B | $1.2B (+49%) | after a round | 54 | unknown | B | 0% |
| 1 Aug 2022 | $818M | $551M – $1.7B | $1.2B (+43%) | after a round | 54 | unknown | B | 0% |
| 1 Sep 2022 | $846M | $551M – $1.7B | $1.2B (+39%) | after a round | 54 | unknown | B | 0% |
| 1 Oct 2022 | $875M | $551M – $1.7B | $1.2B (+34%) | after a round | 54 | unknown | B | 0% |
| 1 Nov 2022 | $906M | $551M – $1.7B | $1.2B (+30%) | after a round | 54 | unknown | B | 0% |
| 1 Dec 2022 | $936M | $551M – $1.7B | $1.2B (+25%) | after a round | 54 | unknown | B | 0% |
| 1 Jan 2023 | $1.1B | $680M – $2.1B | $1.4B (+34%) | after a round | 140 | growing | B | 0% |
| 1 Feb 2023 | $1.1B | $680M – $2.1B | $1.4B (+27%) | after a round | 140 | growing | B | 0% |
| 1 Mar 2023 | $1.2B | $680M – $2.1B | $1.4B (+21%) | after a round | 140 | growing | B | 0% |
| 1 Apr 2023 | $1.3B | $680M – $2.1B | $1.4B (+15%) | after a round | 140 | growing | B | 0% |
| 1 May 2023 | $1.3B | $680M – $2.1B | $1.4B (+9%) | after a round | 140 | growing | B | 0% |
| 1 Jun 2023 | $1.4B | $680M – $2.1B | $1.4B (+4%) | after a round | 140 | growing | B | 0% |
| 1 Jul 2023 | $1.4B | $682M – $2.1B | $1.4B (0%) | after a round | 140 | growing | B | 0% |
| 1 Aug 2023 | $1.4B | $690M – $2.1B | $1.4B (0%) | after a round | 140 | growing | B | 0% |
| 1 Sep 2023 | $1.4B | $615M – $2.1B | $1.4B (0%) | after a round | 140 | unknown | C | 0% |
| 1 Oct 2023 | $1.4B | $589M – $2.1B | $1.4B (0%) | after a round | 140 | unknown | C | 0% |
| 4 Oct 2023 | $1.0B | $869M – $1.5B | $1.3B (+30%) | after a round | 140 | unknown | A | 0% |
| 1 Nov 2023 | $1.0B | $869M – $1.5B | $1.3B (+27%) | after a round | 140 | unknown | A | 0% |
| 1 Dec 2023 | $1.0B | $869M – $1.5B | $1.3B (+25%) | after a round | 140 | unknown | A | 0% |
| 1 Jan 2024 | $1.1B | $869M – $1.5B | $1.3B (+22%) | after a round | 140 | unknown | A | 0% |
| 1 Feb 2024 | $1.1B | $869M – $1.5B | $1.3B (+19%) | after a round | 140 | unknown | A | 0% |
| 1 Mar 2024 | $1.1B | $869M – $1.5B | $1.3B (+17%) | after a round | 330 | growing | A | 0% |
| 1 Apr 2024 | $1.1B | $869M – $1.5B | $1.3B (+14%) | after a round | 330 | growing | A | 0% |
| 1 May 2024 | $1.2B | $869M – $1.5B | $1.3B (+12%) | after a round | 330 | growing | A | 0% |
| 1 Jun 2024 | $1.2B | $869M – $1.5B | $1.3B (+9%) | after a round | 330 | growing | A | 0% |
| 1 Jul 2024 | $1.3B | $869M – $1.6B | $1.4B (+8%) | after a round | 400 | growing | A | 0% |
| 1 Aug 2024 | $1.3B | $869M – $1.6B | $1.4B (+5%) | after a round | 400 | up | A | 0% |
| 1 Sep 2024 | $1.3B | $869M – $1.6B | $1.4B (+3%) | after a round | 400 | up | A | 0% |
| 1 Oct 2024 | $1.4B | $869M – $1.6B | $1.4B (0%) | after a round | 400 | up | A | 0% |
| 1 Nov 2024 | $1.4B | $863M – $1.6B | $1.4B (0%) | after a round | 410 | up | A | 0% |
| 1 Dec 2024 | $1.4B | $857M – $1.6B | $1.4B (0%) | after a round | 410 | up | B | 0% |
| 1 Jan 2025 | $1.3B | $849M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Feb 2025 | $1.3B | $842M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Mar 2025 | $1.3B | $836M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Apr 2025 | $1.3B | $829M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 May 2025 | $1.3B | $822M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Jun 2025 | $1.3B | $816M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Jul 2025 | $1.3B | $809M – $1.6B | $1.3B (0%) | after a round | 390 | up | B | 0% |
| 1 Aug 2025 | $1.3B | $556M – $1.5B | $1.3B (-1%) | after a round | 345 | flat | B | 3% |
| 1 Sep 2025 | $1.3B | $531M – $1.5B | $1.3B (-1%) | after a round | 345 | flat | B | 3% |
| 1 Oct 2025 | $878M | $483M – $1.4B | $679M (-23%) | after a round | 345 | down | B | 77% |
| 1 Nov 2025 | $838M | $459M – $1.4B | $608M (-27%) | after a round | 345 | down | B | 77% |
| 1 Dec 2025 | $799M | $439M – $1.4B | $563M (-30%) | after a round | 353 | down | B | 82% |
| 1 Jan 2026 | $783M | $417M – $1.4B | $547M (-30%) | after a round | 353 | down | C | 82% |
| 1 Feb 2026 | $752M | $397M – $1.4B | $515M (-31%) | after a round | 353 | down | C | 85% |
| 1 Mar 2026 | $760M | $379M – $1.4B | $526M (-31%) | after a round | 353 | down | C | 81% |
| 1 Apr 2026 | $745M | $360M – $1.4B | $511M (-31%) | after a round | 353 | down | C | 81% |
| 1 May 2026 | $631M | $334M – $1.4B | $402M (-36%) | after a round | 314 | down | C | 97% |
| 1 Jun 2026 | $616M | $317M – $1.4B | $389M (-37%) | after a round | 314 | down | C | 97% |
| 1 Jul 2026 | $597M | $300M – $1.4B | $374M (-37%) | after a round | 304 | down | C | 97% |
| 1 Aug 2026 | $620M | $285M – $1.4B | $398M (-36%) | after a round | 304 | down | C | 89% |
| 1 Sep 2026 | $644M | $271M – $1.5B | $422M (-35%) | after a round | 304 | down | C | 82% |
| 1 Oct 2026 | $574M | $256M – $1.5B | $358M (-38%) | after a round | 294 | down | C | 92% |
| 24 Oct 2026 | $470M | $228M – $1.5B | $315M (-33%) | after a round | 294 | down | C | 92% |
Key facts about Electric Hydrogen
- Founded
- 2020
- Headquarters
- Harvard, United States
- Employees
- about 294 -15% in a year
- Total raised
- $767M
- Funding rounds
- 7
- Last round
- Debt May 2024
Electric Hydrogen was founded in 2020 by David Eaglesham, Derek Warnick and Raffi Garabedian.
Electric Hydrogen funding history
Electric Hydrogen has 7 funding rounds on record, from Jun 2021 to May 2024, $767M in total. The latest disclosed valuation is $1.00B post-money (Series C, Oct 2023).
$50M
Grant 4 Apr 2024no round page
Led by U.S. Department of Energy.
Sources: eh2.com, eh2.com, globalhydrogenreview.com
$18M
$46M
Debt 5 Mar 2024no round page
Led by Trinity Capital.
Sources: prnewswire.com, latitudemedia.com, reglobal.org and 2 more
$50M
Series C 3 Oct 2023
Led by Fortescue, Fifth Wall, Energy Impact Partners; with bp Ventures, Oman Investment Authority, Temasek, Microsoft’s Climate Innovation Fund, the United Airlines Sustainable Flight Fund, New Legacy, Kajima Ventures, Fatima Holdings USA, Amazon’s Climate Pledge Fund, Equinor Ventures, Mitsubishi Heavy Industries, Rio Tinto, Breakthrough Energy, Capricorn Partners, Prelude Ventures, S2G Investments.
Sources: finsmes.com, eh2.com, esgtoday.com and 2 more
$380M
$1.00B post-money
Series B 22 Jun 2022
Led by Fifth Wall Climate Technology Fund; with S2G Investments, Silicon Valley Bank, Trinity Capital, Honeywell Ventures, Mitsubishi Heavy Industries, Rio Tinto, Equinor Ventures, Climate Pledge Fund, Cosan, Breakthrough Energy, Capricorn Partners, Energy Impact Partners, Prelude Ventures, Honeywell International Inc..
Sources: eh2.com, energyvoice.com
$198M
Series A 23 Jun 2021
Led by Breakthrough Energy; with Prelude Ventures, Capricorn's Technology Impact Fund.
Sources: prnewswire.com, renewablesnow.com
$24M
Electric Hydrogen investors
29 investors have backed Electric Hydrogen; Breakthrough Energy, Trinity Capital and Energy Impact Partners and 4 more led at least one round.
- Breakthrough Energy lead, 3 rounds
- Energy Impact Partners lead, 2 rounds
- U.S. Department of Energy lead, 2 rounds
- Fifth Wall lead
- Fifth Wall Climate Technology Fund lead
- Fortescue lead
- Equinor Ventures 2 rounds
- Mitsubishi Heavy Industries 2 rounds
- Rio Tinto 2 rounds
- Amazon’s Climate Pledge Fund
- bp Ventures
- Capricorn Partners
- Capricorn's Technology Impact Fund
- Climate Pledge Fund
- Fatima Holdings USA
- Honeywell International Inc.
- Honeywell Ventures
- Kajima Ventures
- Microsoft’s Climate Innovation Fund
- Oman Investment Authority
- Silicon Valley Bank
- Temasek
- the United Airlines Sustainable Flight Fund
What Electric Hydrogen does
Electric Hydrogen works in industrial machinery & supplies, with 14 recorded offerings and customers in industrial, energy, chemicals and metals.
Electric Hydrogen Co. is an American manufacturing company engaged in the production of electrolyzer plants for clean hydrogen production. The company develops and manufactures electrolyzer stacks and integrated hydrogen production systems, including the HYPRPlant solution, which includes all balance-of-plant subsystems. Electric Hydrogen serves a range of industries such as refineries, eFuels, metals, chemicals, cement, ammonia, steel, and fertilizer, and provides solutions for sustainable aviation fuel and e-methanol production. The company operates a gigafactory in the United States and maintains a presence in the Americas, Asia Pacific, and Europe. Its technology is certified by DNV.
Description from Veridion's company data.
Products and services
- Clean Hydrogen Production Solutions
- Electrolyzer Plant Manufacturing
- Electrolyzer Stack Manufacturing
- HYPRPlant System Integration
- Clean Hydrogen Plant Delivery and Commissioning
- Industrial Decarbonization Solutions
- Sustainable Aviation Fuel Production Solutions
- E-Methanol Production Solutions
- Cleantech Technology Development
- Advanced PEM Technology Development
- Hydrogen Production Technology Advancement
- Industrial Project Cost Reduction Consulting
- Greenhouse Gas Emissions Reduction Solutions
- International Hydrogen Plant Distribution
Markets
- Industrial
- Energy
- Chemicals
- Metals
- Agriculture
- Transportation
Technology
- PEM Technology
Certifications
- DNV certified
Business model
- Business-to-Business
- Manufacturing
- Enterprise
Industry codes (NAICS)
- 333248 All Other Industrial Machinery Manufacturing 75% match
- 541330 Engineering Services 25% match
Questions about Electric Hydrogen
What is Electric Hydrogen worth?
Valuation $470M (range $228M to $1.5B), as of 24 Oct 2026. The last disclosed valuation was $1.00B (Series C, Oct 2023).
Has Electric Hydrogen raised money?
Electric Hydrogen has 7 funding rounds on record, from Jun 2021 to May 2024, $767M in total. The latest disclosed valuation is $1.00B post-money (Series C, Oct 2023).
Who has invested in Electric Hydrogen?
Breakthrough Energy, Trinity Capital, Energy Impact Partners, U.S. Department of Energy, Fifth Wall and Fifth Wall Climate Technology Fund, and 23 more. Lead investors include Breakthrough Energy, Trinity Capital, Energy Impact Partners and U.S. Department of Energy.
How many people work at Electric Hydrogen?
About 294, down 15% over the last year. Headcount rose from 54 in Feb 2022 to 410 in Nov 2024, then fell to 294 in Sep 2026.
What does Electric Hydrogen do?
Electric Hydrogen works in industrial machinery & supplies, with 14 recorded offerings and customers in industrial, energy, chemicals and metals. Its main offerings are clean hydrogen production solutions, electrolyzer plant manufacturing and electrolyzer stack manufacturing.
When was Electric Hydrogen founded, and where is it based?
Electric Hydrogen was founded in 2020 and is based in Harvard, United States. It has about 294 employees, down 15% over the last year.