H2B2 Electrolysis Technologies

www.h2b2.es ↗ ·Sevilla ·Series A

H2B2 Electrolysis Technologies is a Seville-based green hydrogen company that designs and manufactures PEM (proton exchange membrane) water electrolyzers. It also develops, finances, builds, operates and maintains renewable hydrogen production plants, and sells hydrogen to industrial and mobility customers. Founded in 2016, it operates in Spain, the United States and India. Its projects include SoHyCal in Fresno, California, which it describes as North America's first operational green hydrogen plant, the HY.Kiel project in Germany and a demonstration plant in Jerez. In December 2021 the Basque investment group Tekpolio invested $10 million and took a board seat. A planned Nasdaq listing through a merger with RMG Acquisition Corp. III was later abandoned, and the company then launched a €30 million capital raise. Revenue was €4.2 million in 2024, down from €13 million in 2023.

Founded

2016

Founders

Total funds raised

€8.8M

SectorsGreen Hydrogen, Electrolyzers, Clean Energy, Industrial Decarbonisation Start-up MapEnergy & Climate › Clean energy generation hardware

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Founders

Anselmo Andrade

Founding Partner & Chief Executive Officer

Blanca Benjumea

Founding Partner, Chief Financial Officer & HR Manager

Felipe Benjumea

Founding Partner, Chief Investment Officer & Project Development Manager

Javier Brey

Founder, Chief Technology Officer & H2B2 Labs Manager

Global models 5

Electric Hydrogen

United States · eh2.com ↗

Designs and manufactures large PEM electrolyzer plants and sells them to developers of industrial green hydrogen projects, the same PEM hardware model at the core of H2B2.

$600MComparable

Sunfire

Germany · www.sunfire.de ↗

Manufactures industrial electrolyzers (pressurised alkaline and solid-oxide) and supplies turnkey systems for renewable hydrogen plants serving industrial customers.

$550MComparable

Ohmium

United States · www.ohmium.com ↗

Makes modular PEM electrolyzers and offers project development and hydrogen-as-a-service to industrial buyers, with operations in the US and India, very close to H2B2's mix of equipment and plant ownership.

$300MComparable

Hysata

Australia · hysata.com ↗

Develops and manufactures high-efficiency capillary-fed electrolyzers sold to green hydrogen producers for industrial-scale projects.

$150MComparable

Verdagy

United States · verdagy.com ↗

Builds large-scale electrolyzers for renewable hydrogen plants and sells the equipment to industrial and energy project developers.

$100MComparable

In the same niche 28 others

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Notes: Most funded first

Investors 2

Grupo Tekpolio

Led Series A 2021 Spain

Tekpolio

Investor Spain

Funding rounds 1

Date	Round	Amount	Lead
2021-12-16	Series A (estimated)	€8.8M	Grupo Tekpolio

News 7

Open as list →

Published	Article
2026-03-20	La 'holding' americana de la empresa de electrolizadores H2B2 propone pagar sus deudas con quitas del 90% ↗ El Conciso 2026-03-20
2025-11-18	El fabricante de electrolizadores H2B2 negociará la reestructuración de su deuda tras pérdidas millonarias ↗ El Conciso 2025-11-18
2025-05-09	H2B2 retoma el camino hacia el Nasdaq con la ambición de saltar al parqué en 12 meses ↗ El Español / Invertia 2025-05-09
2024-10-01	GreenH Electrolysis unveils its first 1 MW PEM electrolyzer ↗ pv magazine India 2024-10-01
2024-04-04	RMG Acquisition III Ends Merger Agreement with H2B2 ↗ TipRanks 2024-04-04
2023-12-12	GreenH Electrolysis Entered into a Contract to Build a Hydrogen Production and Refueling Station to Power India's First Hydrogen Train ↗ PR Newswire 2023-12-12
2023-11-16	Biogas more cost-effective than solar to power new green hydrogen facility: H2B2 ↗ Utility Dive 2023-11-16