HH2SITE
H2SITE is a Basque Country-based industrial technology company that develops palladium-alloy membrane reactor systems to produce and separate high-purity hydrogen (99.97%) from carriers such as ammonia and methanol, cutting the cost of hydrogen transport. Spun off from Tecnalia and Eindhoven University of Technology in 2019/2021, it is a growth-stage (Series B) deep-tech company partnering with players like Equinor, Petronor, Mitsubishi Power and SNAM. It has raised over €42M in Series B funding as of mid-2026.
SectorsHydrogen, Clean Energy, Industrial Technology, Decarbonization
Start-up MapEnergy & Climate › Clean energy generation hardware
Founders
A
Andrés Galnares
Co-Founder & Chief Executive Officer
G
Gorka Hermoso
Co-Founder & Financial Director
J
Jon Meléndez Rey
Co-Founder & Technical Director
J
Jose Antonio Medrano Jimenez
Co-Founder & Technical Director
Global models 5
P
Plug Power
United States · www.plugpower.com ↗
Publicly traded hydrogen equipment and fuel cell company with a similar focus on hydrogen production and infrastructure technology.
$3B+Comparable
EElectric Hydrogen
United States · eh2.com ↗
VC-backed hydrogen electrolyzer/equipment manufacturer targeting industrial decarbonization, directly comparable to H2SITE's hardware-for-hydrogen model.
$1B+Comparable
HHystar
Norway · hystar.com ↗
European venture-backed hydrogen electrolyzer technology company serving industrial decarbonization, similar geography and B2B industrial equipment model.
$150M+Comparable
HH2Pro
Israel · www.h2pro.co ↗
Deep-tech venture-backed startup developing novel hydrogen production technology aimed at cost reduction, similar stage and technical focus.
$100M+Comparable
Ssunfire
Germany · www.sunfire.de ↗
European VC-backed manufacturer of electrolyzer/hydrogen production systems for industrial decarbonization, comparable equipment-focused business model.
$500M+Comparable
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Notes: Most funded first
Investors 12
Open as list →
SSuma Capital
sumacapital.com
SSPRI
www.spri.eus
EEIC Fund
eic.ec.europa.eu
EEnagás Emprende
emprende.enagas.es
SSeed Capital Bizkaia
seedcapitalbizkaia.eus
TTecnalia
www.tecnalia.com
BBreakthrough Energy Ventures
EENGIE New Ventures
H
EEquinor Ventures
EExergon
MMassMutual Ventures
Funding rounds 4
| Date | Round | Amount | Lead |
|---|---|---|---|
| 2026-06-24 | Series B | approximately €6M |
Lead not disclosed
+1 more
|
| 2025-01-16 | Series B | €36M |
Hy24, SC Net Zero Ventures (Suma Capital)
+6 more
|
| 2022-06-29 | Series A | €12.5M |
Breakthrough Energy Ventures
+5 more
|
| 2020-03-05 | Seed | — | ENGIE New Ventures |