Trinity Capital Inc. provides US$50 million in equipment financing to Electric Hydrogen

Electric Hydrogen's electrolyser systems are complete chemical plants that produce green hydrogen from renewable electricity and water, allowing for the decarbonisation of industrial processes such as fertilizer production, steelmaking, base chemical production, and more. Electric Hydrogen's 100 MW electrolyser plant produces nearly 50 tpd of green hydrogen at an ultra-low cost.

"Electric Hydrogen's game-changing electrolyser plant has the potential to reduce the cost of green hydrogen while accelerating decarbonisation in critical industries," said Ryan Little, Senior Managing Director, Equipment Financing at Trinity Capital. "We are proud to support a leading American electrolyser manufacturer as it scales rapidly to meet growing industrial demand for low-cost green hydrogen."

In 2023, Electric Hydrogen completed a Series C equity raise of US$380 million, bringing the total capital raised by the company to more than US$600 million. The new equipment finance facility from Trinity is a key piece of the financing behind Electric Hydrogen's gigafactory in Devens, US, which begins production in Q2.

"Electric Hydrogen manufactures powerful electrolysers to produce low-cost green hydrogen at industrial scale," said Derek Warnick, CFO of Electric Hydrogen. "Trinity Capital's equipment financing enables us to quickly scale our manufacturing capacity at our Devens giga-factory to meet growing customer demand for zero-carbon green hydrogen."

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/06032024/trinity-capital-inc-provides-us50-million-in-equipment-financing-to-electric-hydrogen/