en.Wedoany.com Reported - Spanish hydrogen technology company H2SITE has completed the second closing of its Series B financing round, bringing the total round to over €42 million. The Spanish hydrogen technology financing will be used to expand manufacturing capacity, advance international market expansion, and support the commercial deployment of large-scale hydrogen projects.

The new investment is led by the European Innovation Council Fund and an undisclosed private investor. Existing investors include Breakthrough Energy Ventures, Suma Capital, Hy24, Enagas Emprende, Calderion, and the Innvierte program under Spain's Centre for the Development of Industrial Technology. Headquartered in Bilbao, Spain, H2SITE primarily develops hydrogen production and separation technologies based on palladium alloy membranes.

H2SITE states that its technology can produce hydrogen with a purity of up to 99.97% from feedstocks such as ammonia, methanol, and syngas, while recovering up to 98% of the hydrogen from the feedstock. The company's related technologies have accumulated over 50,000 hours of operation, and it is developing an ammonia cracking project at the Port of Antwerp. With the completion of the €42 million hydrogen technology financing, Spain's hydrogen separation, membrane reactors, ammonia cracking, and industrial low-carbon hydrogen applications will continue to advance.

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