E
Electric HydrogenElectric Hydrogen Company Milestones
| Date | Event | Source class |
|---|---|---|
| 2020 | Founded in Natick, Massachusetts | Company PR |
| 2023-10 | Series C $380 million; Reuters $1 billion valuation | Company PR / Reuters |
| 2024-03 | DOE $46.3 million Clean Electrolysis grant for Devens | Company / Business Wire |
| n/a | 48C $18.3 million credit; $65 million DOE support total | Company PR |
| n/a | Devens 1.2 GW gigafactory ribbon-cutting | Company PR / Rep. Trahan |
Electric Hydrogen Devens Gigafactory
| Item | Figure | Notes |
|---|---|---|
| Location | Devens, Massachusetts | HQ remains Natick |
| Nameplate capacity | 1.2 GW per year when fully ramped | Company PR; not current run-rate output |
| Product | 100 MW PEM plant (stack plus power, gas, water, thermal) | Company PR |
| Headcount (company PR) | More than 300, California and Massachusetts | Gigafactory PR boilerplate |
| Founded | 2020 | Company PR |
Electric Hydrogen Equity and DOE Capital
| Instrument (date) | Amount | Terms / lead | Notes |
|---|---|---|---|
| Series C (2023-10) | $380 million | Fortescue, Fifth Wall, Energy Impact Partners | Reuters: $1 billion post-money (source, not in the company PR body) |
| Cumulative equity (Series C PR) | >$600 million since 2020 | Amazon Climate Pledge, Breakthrough Energy, bp, Temasek among backers | Company PR |
| Cumulative financing (gigafactory PR) | >$750 million | Later company boilerplate | Includes subsequent financing after Series C |
| DOE Clean Electrolysis grant | $46.3 million | Bipartisan Infrastructure Law | Devens manufacturing scale-up |
| 48C tax credit | $18.3 million transferable | IRA Qualifying Advanced Energy Project | Brings DOE support to $65 million |
Electric Hydrogen Product and Pipeline Notes
| Item | Disclosure | Caveat |
|---|---|---|
| Commercial product | 100 MW PEM electrolyzer plant | Includes BOP, not stack-only |
| Customer reservations (2023) | >5 GW reserved (contemporaneous coverage of Series C) | Reservations, not commissioned GW |
| Factory start (2023 guide) | Commercial production targeted early 2024 | Company-stated at Series C |
| End markets | Steel, fertilizer, shipping, aviation | Gigafactory PR |
