Air Liquide Venture Capital Invests in US Electrolyser Start-Up P2H2

Investment to accelerate hybrid AEM hydrogen technology deployment

Air Liquide Venture Capital (ALIAD) has provided significant backing to Ohio-based electrolyser start-up Power to Hydrogen (P2H2) in the second close of its Series A funding round. This investment, whose exact financial details remain undisclosed, follows P2H2’s successful initial funding round in August 2024, which raised over $18 million (~$18m), aimed at expanding deployment and manufacturing of its innovative hydrogen-production systems.

The investment further strengthens P2H2’s ambitions to scale up its proprietary hybrid electrolyser technology—a unique combination of alkaline liquid and Anion Exchange Membrane (AEM) layers, which addresses common challenges associated with standard AEM electrolyser systems. Specifically, the hybrid approach mitigates issues like membrane oxidation and the use of “unstable ionomers” at the anode, paving the way for a more robust, scalable, and commercially viable hydrogen-production solution.

Power to Hydrogen’s CEO, Paul Matter, highlighted the strategic importance of this partnership, stating, “This support from @Air Liquide's venture capital arm is a powerful enabler to further develop our technology to meet the growing commercial demand for clean hydrogen."

The initial close of the Series A funding round featured prominent industry players, including EDP Ventures, American Electric Power (AEP), Asahi Kasei, and JERA, underscoring strong market interest and industry validation for the technology.

With this recent backing from Air Liquide, P2H2 is accelerating its readiness to sell megawatt-scale systems built on modular 250kW electrolyser stacks. Although the company previously announced plans for deploying the “largest” AEM electrolyser stack installation at the Port of Antwerp-Bruges by Q4 of last year, further updates on this specific deployment have yet to be announced.

P2H2 expressed gratitude and excitement for Air Liquide’s support, emphasizing the shared vision of "enabling clean hydrogen as a key part of the global energy ecosystem."

Air Liquide, already an established global leader in hydrogen, operates comprehensively across hydrogen production, distribution, storage, and end-use applications, making this partnership strategically beneficial for both parties.

According to P2H2, the new investment from ALIAD “will accelerate our ability to deploy commercial Hybrid Anion Exchange Membrane (AEM) electrolysis systems and scale up production of our Hybrid AEM electrolyzer technology.” 

 

Air Liquide Backs US Hydrogen Tech Firm P2H2