Electric Hydrogen, a US electrolyser manufacturer, has acquired hydrogen project developer Ambient Fuels and entered a strategic partnership with Generate Capital to accelerate clean hydrogen deployment worldwide. The move strengthens Electric Hydrogen’s project development capabilities while creating a financing platform of up to $400 million for hydrogen projects.

The acquisition adds Ambient Fuels’ portfolio of US project sites and development expertise to Electric Hydrogen’s offering, enabling customers to access both co-development support and dedicated capital resources. The partnership with Generate Capital combines technology and financing to deliver lower levelised costs of hydrogen (LCOH) and address current bankability challenges.

Electric Hydrogen’s modular HYPRPlant, built on its high-power PEM electrolyser technology, reduces installed project costs by up to 60% and shortens deployment timelines. Together with Ambient Fuels’ development capabilities and Generate Capital’s financial backing, the company aims to scale renewable hydrogen faster and broaden its service model – from turnkey plant development to renewable hydrogen supply. The transaction closed in May 2025, with project capital deployment expected to begin in 2026.