Generate Capital and Ambient Fuels to scale up green hydrogen projects

The agreement includes a commitment to fund up to US$250 million of green hydrogen infrastructure. The funding supports Ambient Fuels’ fast-growing pipeline of projects.

Ambient Fuels offers custom-engineered green hydrogen solutions, overseeing every step of execution — from project development and design to financing and construction — of its renewable hydrogen centers. The company’s technology-agnostic approach works with any renewable energy source to support decarbonisation at scale. With experience across both conventional and renewable energy as well as industrial and chemical processes, the Ambient Fuels team offers deep development and technical expertise.

“Joining forces with a global sustainability leader such as Generate gives us access not only to the capital we need to grow our business but also to a trusted and strategic partner who is committed to our long-term success,” said Jacob Susman, CEO of Ambient Fuels. “Our collaboration with Generate Capital supercharges our ability to meet the unique needs of our customers by delivering the green hydrogen facilities they require for their decarbonisation efforts.”

“For the last decade, Generate Capital has been partnering with leading project developers and technology companies to de-risk, accelerate and scale innovative, sustainable infrastructure,” said Scott Jacobs, Co-Founder and CEO of Generate Capital. “We are excited to work with the team at Ambient Fuels to deliver effective and cost-competitive solutions to emission-intensive sectors that have traditionally been considered hard to decarbonise.”

Today’s global hydrogen production is responsible for 830 million tpy of CO₂, which represents 2.5% of global emissions and corresponds to the annual CO₂ emissions of Indonesia and the UK combined. The US itself accounts for 10% of these global emissions. Green hydrogen is key to achieving a net zero economy, particularly in heavy industry sectors that use relatively little electricity but are carbon-intensive such as ammonia production, oil refining, and heavy transportation. Using hydrogen produced with renewable electricity to replace grey hydrogen and produce e-fuels is a practical and cost-efficient way to decarbonise these critical sectors.

“Since SJF Ventures led the seed financing for Ambient Fuels in late 2021, the firm has developed a strong pipeline of green hydrogen projects,” said Dave Kirkpatrick, Co-Founder and Managing Director of SJF. “Generate has been extremely successful at scaling critical, sustainable infrastructure so we are delighted to partner with them to get all these projects built.”

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/18052023/generate-capital-and-ambient-fuels-to-scale-up-green-hydrogen-projects/