Generate Capital, a leading sustainable infrastructure investment and operating company, has made an investment in Ambient Fuels, a pioneering developer that builds green hydrogen projects to support the decarbonization of heavy industries and transportation, according to a news release.
The agreement includes a commitment to fund up to $250m of green hydrogen infrastructure. The funding supports Ambient Fuels’ fast-growing pipeline of projects.
CEO Jacob Susman said in an interview earlier this year with ReSource that the company was in exclusivity with an investor.
Susman declined to name the private equity provider but said the backing will allow Ambient to develop several projects, as well as acquire projects from other developers. The deal was proceeding without the help of a financial advisor, he said at the time.
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 decarbonization 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, chief executive officer 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 decarbonization 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 chief executive officer 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 decarbonize.”
“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.”
