Electric Hydrogen secures $100M credit facility from HSBC, J.P. Morgan, Stifel Bank and Hercules Capital to decarbonize critical industries at scale
Electric Hydrogen, headquartered in
“For more than 150 years, HSBC has been supporting businesses as they scale and transform industries worldwide,” said Matt Perlow, Director, HSBC Innovation Banking. “Our focus on financing innovative companies like Electric Hydrogen aligns with our mission of providing best-in-class banking services for our clients at every stage of their growth cycle. Clean technology and sustainability remain top priorities at HSBC, and we are thrilled to support Electric Hydrogen’s deployment of large-scale electrolyzer plants in its mission to decarbonize critical industries.”
“This facility marks a step-change in Electric Hydrogen’s access to capital and overall maturity as a business. With credit backing from some of the world’s largest and most well-known banks, we are well positioned to deliver gigawatts of electrolyzer plants in the coming years and enable our customers to meet their decarbonization goals,” states Derek Warnick, the company’s Chief Financial Officer.
Electric Hydrogen recently announced
“At J.P. Morgan, we are focused on serving companies who are helping decarbonize industries and building the green economy. We are pleased to support Electric Hydrogen in their next phase of growth, as they bring their 100MW electrolyzer plants to customers worldwide,” says Eric Cohen, Head of Green Economy Banking at J.P. Morgan Commercial Banking.
“Given the growing demand for cost-competitive, zero-carbon green hydrogen, we are excited to partner with Electric Hydrogen’s industry-leading team to help accelerate its manufacturing rollout and support deployment of their 100 MW electrolyzer plants,” remarks Greg Peterson, Managing Director of Hercules Capital.
About Electric Hydrogen
Electric Hydrogen manufactures, delivers and commissions the world’s most powerful electrolyzers for critical industries to produce the lowest cost green hydrogen. The company’s complete 100MW plant includes all system components required to turn water and electricity into green hydrogen, including power conversion, gas processing, water treatment and thermal management. Electric Hydrogen’s advanced PEM technology helps critical industries achieve their climate objectives by making green hydrogen an economic inevitability. Electric Hydrogen has a team of more than 300 people with operations in
About HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in
HSBC Bank
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed more than
About Stifel
Stifel is a diversified global wealth management, investment bank, and commercial banking company. Our Venture Banking group, through Stifel Bank, Member FDIC, provides commercial banking and debt capital financing solutions to venture capital-backed technology companies and their investors. Stifel Bank, Member FDIC, has the flexibility and resources to offer our customers the banking, treasury management, and lending solutions they value most, with the legacy of Stifel. We collaborate with Stifel Investment Banking teams and StifelWealth Management, tailoring solutions for companies and individuals across their asset management needs. To learn more, please visit: https://stifelventurebanking.com/
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Source: Electric Hydrogen
