Green H2 startup Ambient Fuels pockets USD 250m to advance pipeline

Sustainable infrastructure investor Generate Capital PBC will inject USD 250 million (EUR 230.8m) into green hydrogen developer Ambient Fuels LLC in a move that will enable the New York-based firm to develop projects aiming to decarbonise heavy industries and transportation.

The funding will be set aside for green hydrogen infrastructure projects that are already part of Ambient Fuels’ pipeline, the two companies announced on Wednesday.

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Ambient Fuels provides custom-engineered green hydrogen solutions, covering all stages from project development and design, through to financing and construction. The company has experience both with conventional and green hydrogen projects.

“Joining forces with a global sustainability leader such as Generate gives us access not only to the capital we need to grow our business but also to a trusted and strategic partner who is committed to our long-term success,” said Jacob Susman, CEO of Ambient Fuels.

Set up in 2021, Ambient Fuels held its seed financing round late that year. It was led by clean energy and climate change mitigation platform SJF Ventures.

(USD 1.0 = EUR 0.923)