Series B · Energy · Bilbao, Spain · Founded 2020 · 60–80 employees
H2SITE is a deep-tech spinout of TECNALIA and Eindhoven University of Technology, founded in 2020 in Bilbao, Spain, that develops proprietary palladium-alloy membrane reactor technology to produce and separate high-purity hydrogen (99.97%) on-site from carriers such as ammonia, methanol, and syngas. The company integrates reaction and separation into a single step, achieving up to 98% hydrogen recovery at significantly lower operating temperatures than conventional methods, yielding lower levelized costs of hydrogen. H2SITE has built and operated 15 projects across Western Europe and is actively expanding into North America and Asia-Pacific, including a flagship 1-tonne-per-day ammonia cracker funded by the EIC Accelerator and a world-first on-board ammonia cracking system for maritime decarbonization. In January 2025, the company closed a €36 million Series B round co-led by Hy24 and SC Net Zero Ventures, with participation from Breakthrough Energy Ventures, Equinor Ventures, MassMutual Ventures, Enagás Emprende, Exergon, and Ezten, bringing total funding to over $50 million.