Electrolyser OEM Electric Hydrogen Moves into Project Development via Acquisition
The deal will allow the company to launch, buy, and sell large-scale hydrogen projects, opening up deployment opportunities and new revenue streams, with a focus on US and European markets.
Ambient Fuels, which launched in 2021, aimed to deliver “custom-engineered” green hydrogen solutions from project development and design to financing and construction.
Its portfolio of projects has not been publicly disclosed. However, Electric Hydrogen said the acquisition would expand its ability to “partner with customers on co-development of hydrogen projects and provide dedicated capital resources where appropriate.”
As part of the deal, which closed in May, the OEM has partnered with Ambient investor Generate Capital to offer up to $400m in hydrogen project financing.
Electric Hydrogen CEO, Raffi Garabedian, said the deal would allow the firm to serve a wider base of customers, from just buying electrolyser plants to those needing financing and development partners.
The company is targeting the first project capital spending in 2026.
Former Ambient CEO, Jacob Susman, who now joins the OEM as a project development lead, said, “Our team is well-positioned to support Electric Hydrogen customers who prefer to buy renewable hydrogen as a process input rather than building and operating their own renewable hydrogen plants.
“We believe this is a key ‘unlock’ for the nascent renewable hydrogen and renewable fuels industries that will help customers get to scale faster.”
The company’s HYPRPlant is available in 75MW, 100MW, and 120MW configurations that encompass stacks and all balance of plant equipment, which it claims can reduce project capex by up to 60%.
Electrolyser makers are increasingly shifting toward integrated models – building, owning, and operating hydrogen plants – to de-risk offtake and accelerate deployment, echoing the playbooks of industrial gas majors.
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