Trinity Capital Inc., a provider of diversified financial solutions to growth-stage companies, today announced the commitment of $50 million in equipment financing to Electric Hydrogen, a manufacturer of electrolyzer systems that produce green hydrogen for critical industries.
The new equipment finance facility from Trinity is a key piece of the financing behind Electric Hydrogen’s gigafactory in Devens, MA which begins production in Q2.
Electric Hydrogen’s electrolyzer systems are complete chemical plants that produce green hydrogen from renewable electricity and water, allowing for the decarbonization of industrial processes such as fertilizer production, steelmaking, base chemical production, and more, according to a news release. Electric Hydrogen’s 100 megawatt electrolyzer plant produces nearly 50 tons of green hydrogen each day at an ultra-low cost.
In 2023, Electric Hydrogen completed a Series C equity raise of $380 million, bringing the total capital raised by the company to more than $600 million.
