H2B2
H2B2 Electrolysis Technologies is a Spanish PEM electrolyzer manufacturer and green hydrogen project developer that builds modular electrolyzers and turnkey hydrogen production plants for industrial, mobility, and energy storage customers across Spain, the United States, and India.
- Company typePrivate
- Founded2016
- HeadquartersSevilla, Spain
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What H2B2 does
H2B2 Electrolysis Technologies, S.L. is a Spanish technology company founded in 2016 that designs, manufactures, finances, builds, operates and maintains hydrogen production systems based on water electrolysis. Its core product is a modular PEM electrolyzer portfolio ranging from small containerized units (EL10N-EL60N, 0.957-5.61 kg/h) to large 40-foot-container systems (EL200N-EL2000N, 17.8-178 kg/h), with a Seville facility carrying 200 MW of annual manufacturing capacity. The company is also developing AEM stacks (which avoid cobalt and nickel) and SOEC stacks (with up to 25% energy savings, including a world-first 3D-printed solid oxide cell pilot at the Merce Lab with IREC).
H2B2 generates revenue across five streams: electrolyzer hardware sales, turnkey hydrogen production plant EPC at 10s-100s MW scale, ongoing operations and maintenance, project development and financing, and direct sale of produced renewable hydrogen. Customers span industrial users (refineries, glass, chemicals, e.g., CEPSA), mobility operators (Fresno Area Express, FM Logistic), energy and utilities (GP JOULE, Técnicas Reunidas, VTT), and research institutions. The company has manufacturing or operational presence in three regions — Seville, California (SoHyCal 9 MW plant in Fresno, one of the largest operational renewable hydrogen facilities in North America), and India — and serves customers in Spain, the US, Germany, Finland, the UAE, and the UK.
The business model combines direct enterprise sales with project development, EPC, and long-term O&M contracts, all governed by quote-based, customized pricing on multi-year contracts. The company is privately held, founder-controlled with leadership drawn largely from former Abengoa executives (Executive Chairman Felipe Benjumea, former Abengoa President; CTO Javier Brey, former CEO of Abengoa Hydrogen), and has publicly signaled intent to pursue a Nasdaq listing. It holds ISO 9001/14001/45001 certifications, was the only Spanish SME selected for the European Commission's IPCEI Hy2Tech program (€25M grant), and won 'Electrolyzer Manufacturer of the Year' at the RENMAD H2 2025 Awards.
H2B2 firmographics
Firmographics- Name
- H2B2
- Legal name
- H2B2 Electrolysis Technologies, SL
- Website
- https://h2b2.es
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- H2B2 Electrolysis Technologies is a Spanish PEM electrolyzer manufacturer and green hydrogen project developer that builds modular electrolyzers and turnkey hydrogen production plants for industrial, mobility, and energy storage customers across Spain, the United States, and India.
- Ownership category
- akta.pro rank
H2B2 industry classification
Industry- Product category
- Hydrogen Production Equipment
- NAICS
- Electrical Equipment, Appliance, and Component Manufacturing (335), Air and Gas Compressor Manufacturing (333912)
- SIC
- Motors & Generators (3621)
- akta.pro primary industry
- Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)
- akta.pro secondary industries
- Power-to-Gas (P2G) / Electrolysis Integration & Operations (EUAJAJAH), Hydrogen Storage EPC, Engineering & Construction (Aboveground/Underground Facilities) (EUAFAEAK)
Keywords
Where H2B2 is headquartered
LocationHeadquarters
- HQ city
- Sevilla
- HQ country
- Spain
- HQ region
- Europe
Offices4 records
Markets served
H2B2 business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Supply Chain, Infrastructure, Operations, Marketing or Sales
Revenue model
- Electrolyzer Manufacturing & Sales: Design, manufacture, and sale of modular electrolyzers (EL10N through EL2000N series) producing hydrogen at various capacities for industrial, mobility, and energy storage applications
- Hydrogen Production Plant Development (EPC): Engineering, procurement, and construction of turnkey hydrogen production plants at 10s-100s MW scale, including full system integration with renewable energy sources
- Operations & Maintenance (O&M): Ongoing operation, predictive and corrective maintenance, remote support services for hydrogen production facilities and electrolyzers
- Project Development & Financing: Development, promotion, and financing of hydrogen production projects including project finance, SPV settlement, and commercialization of green hydrogen
- Hydrogen Sales: Direct sale of produced renewable hydrogen to industrial customers, transportation operators, and energy users
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Small-scale electrolyzers (EL10N-EL60N): 0.957-5.61 kg/h hydrogen capacity |
| Unit Pricing | Multi-year contract | Large-scale electrolyzers (EL200N-EL2000N): 17.8-178 kg/h hydrogen capacity |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
H2B2 product offering
Product offeringCore offering
H2B2 is a technology company that designs, manufactures, and sells modular PEM (Proton Exchange Membrane) electrolyzers ranging from 0.957 kg/h to 178 kg/h hydrogen capacity. The company also promotes, develops, finances, builds, operates, and maintains turnkey hydrogen production plants at MW scale, hydrogen refueling stations, and provides complete green hydrogen value chain solutions including EPC, O&M, and direct hydrogen sales.
Product overview
H2B2 Electrolysis Technologies is a hydrogen production technology company offering a comprehensive portfolio of electrolyzers and integrated hydrogen solutions. The product portfolio includes PEM electrolyzers ranging from small-scale (EL10N-EL60N, 0.957-5.61 kg/h) to large-scale (EL200N-EL2000N, 17.8-178 kg/h), hydrogen production plants for utility-scale deployments (10s-100s MW), and hydrogen refueling stations for mobility applications. The company operates across three geographies (Spain, USA, India) with manufacturing capacity of 200 MW annually in Seville. Key technologies include PEM (caustic-free), AEM (critical material-free), and SOEC (solid oxide with 3D-printed ceramics). Projects like SoHyCal (3,000 kg/day in California) and the HY.Kiel installation (2 MW in Germany) demonstrate the integrated product offering spanning equipment manufacturing, plant development, and O&M services.
Differentiator
Problem solved
Functional benefit
Products and services
- EL10N Electrolyzer Medium-scale PEM electrolyzer producing 0.957 kg/h of hydrogen, integrated in a container. Designed for industrial and mobility customers requiring distributed hydrogen production.
- EL20N Electrolyzer Medium-scale PEM electrolyzer producing 1.881 kg/h of hydrogen, integrated in a container. Targeted at industrial customers needing distributed hydrogen production.
- EL30N Electrolyzer Medium-scale PEM electrolyzer producing 2.805 kg/h of hydrogen, integrated in a container.
- EL60N Electrolyzer Medium-scale PEM electrolyzer producing 5.61 kg/h of hydrogen, integrated in a container.
- EL200N Electrolyzer Large-scale PEM electrolyzer producing 17.8 kg/h of hydrogen, integrated into a 40ft container.
- EL400N Electrolyzer Large-scale PEM electrolyzer producing 35.6 kg/h of hydrogen, integrated into a 40ft container.
- EL600N Electrolyzer Large-scale PEM electrolyzer producing 53.4 kg/h of hydrogen, integrated into a 40ft container.
- EL800N Electrolyzer Large-scale PEM electrolyzer producing 71.2 kg/h of hydrogen, integrated into a 40ft container.
- EL1000N Electrolyzer Large-scale PEM electrolyzer producing 89 kg/h of hydrogen, integrated into a 40ft container.
- EL2000N Electrolyzer Large-scale PEM electrolyzer with 10 cell stacks, producing up to 178 kg/h of hydrogen with max 14,000 kW installed power, operating pressure 15-40 barg, and stack consumption of 4.7 kWh/Nm3 H2.
- Hydrogen Production Plants Full turnkey solutions for 10s and 100s MW-scale hydrogen production plants based on water electrolysis, available in modular and skid-mounted configurations with O&M services, for utilities, industrial customers, and government entities.
- Hydrogen Refueling Stations Modular and stationary hydrogen refueling solutions for vans, forklifts, buses, and cars featuring compression capabilities up to 500 bar, targeted at mobility operators and fleet managers.
- SoHyCal Renewable Hydrogen Production Plant Operational 9 MW renewable hydrogen production plant in Fresno, California, producing up to 3,000 kg/day using PEM electrolysis powered by photovoltaic energy. Certified under California Low Carbon Fuel Standard (CA-LCFS).
Quantifiable outcome
- 200 MW annual manufacturing capacity in Seville
- +4 more outcomes
Companies that use H2B2
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
H2B2 technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
H2B2 partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and minor.
- IREC (Catalonia Institute for Energy Research)coreH2B2 funded the €2 million Merce Lab pilot plant at IREC for manufacturing solid oxide cells (SOC) using 3D printing of functional ceramics. This world-first facility aims to accelerate renewable hydrogen industrialization with ~2 MW/year capacity and projected hydrogen costs below €4/kg. IREC plans to spin out Oxhyd Energy to commercialize the technology.
- GP JOULEcoreH2B2 supplied and installed a 2 MW PEM electrolyzer for the HY.Kiel project led by GP JOULE in Northern Germany. The electrolyzer is fully installed and integrated for renewable hydrogen production to supply sustainable transport and local businesses. Cold commissioning completed successfully.
- EcoEngineerscoreEcoEngineers provided life-cycle assessment (LCA) expertise and regulatory navigation for SoHyCal's California Low Carbon Fuel Standard (CA-LCFS) certification, positioning H2B2 as a key player in producing hydrogen with negative carbon footprint.
- GTL LeasingcorePartnership for SoHyCal project involving GTM-1500 trailer as temporary hydrogen storage and dispensing solution, enabling efficient refueling of Fresno Area Express fuel cell electric buses while permanent infrastructure was developed.
- ARCHES H2coreH2B2 is a proud member and supporter of ARCHES H2 hydrogen hub, collaborating on projects including SoHyCal, a 9 MW green hydrogen facility in California's Central Valley.
- AqualiacoreH2B2 participates as key consortium member in the Eclosion project led by Aqualia, developing Spain's first AEM electrolyzer at Guadalete WWTP in Jerez de la Frontera. Project co-funded by CDTI and EU Next Generation programme.
- Hydrogen Europe / European Clean Hydrogen AlliancecoreH2B2 participates in the Electrolyser Partnership launched under the European Clean Hydrogen Alliance, coordinated by Hydrogen Europe and EC's DG GROW, contributing to Clean Industrial Deal framework for renewable hydrogen in Europe's industrial strategy.
- IPCEI Hy2Tech Consortium (41 European companies)coreH2B2 is one of 41 European companies selected in IPCEI Hy2Tech (only Spanish SME), participating in €5.4B public + €8.8B private investment programme for hydrogen technology development across 15 EU member states.
- California Energy Commission (CEC)coreCEC approved $3.96M grant for SoHyCal project - pioneering 100% renewable hydrogen production plant with PEM technology in Central California with up to 3,000 kg/day capacity.
- Fresno County Economic Development CorporationminorStrategic partner supporting SoHyCal project development and clean hydrogen ecosystem in Fresno County, California.
- H2SHIFT ConsortiumcoreEuropean consortium including Environment Park Torino, Snam, Polito, University South Wales, Resolvent Denmark, CDI Italia, Politecnico Milano, IREC, DLR, Técnicas Reunidas, H2B2, and others creating first innovation center for hydrogen production technologies open to SMEs.
- HyP3D ConsortiumcoreEuropean project consortium led by IREC including DTU, PoliTo, BSC, 3DCERAM, Vac-Tron, H2B2, and Snam for developing ultra-compact high-pressure SOEC stacks for P2G and HRS applications using 3D printing technology.
- HyPrAEM ConsortiumcoreHorizon Europe project developing 100 kW AEM electrolysis stack capable of producing hydrogen directly at 100 bar. Consortium led by DTU including HyET, De Nora, TNO, FZ Juelich, TotalEnergies, EPFL, HES-SO, and H2B2.
- ESPAEM Research PartnerscoreValue chain project developing 100% national AEM technology. H2B2 collaborates with UJI-INAM, ICIQ, CIEMAT, and ICMUV for new materials, components, and processes research.
- TeStack PartnerscoreIDAE-funded project developing testing platforms for high-power electrolysis technologies. H2B2 collaborates with INTA (AEM platform) and IREC (SOEC platform) for component and system validation.
- UES365 ConsortiumminorCDTI-funded project on underground hydrogen storage. Consortium includes GNCOM, INERCO, SALMUERAS, TyG, OSSA, NTT DATA, and H2B2 investigating storage in depleted gas fields.
- Ad-Grhid ConsortiumminorConsortium led by Magtel including Ingelectus, Eléctrica de Villanueva, Nasika, Premo, Protio Power, Tequinson Servicios, and H2B2. H2B2 works with IREC on 100% national SOEC technology development.
- Undergy ConsortiumminorConsortium including Petroleum, Gas Natural, Ayterra, Gessal, Técnicas Reunidas, and H2B2 investigating underground hydrogen storage in depleted gas fields with Loyola University collaboration.
- Regenera ConsortiumminorConsortium led by DAM including Sorigué, Engie, Hidroquimia, Tyris AI, Exolum, Aiguasol, and H2B2. H2B2 collaborates with IREC on water electrolysis technologies targeting 33% footprint reduction.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
H2B2 competitors and assessment
Company assessmentDirect peers
- Nel ASA: Norwegian PEM electrolyzer market leader with global manufacturing and installed base. Directly comparable to H2B2 in PEM technology, target customers (industrial, mobility, energy storage), and project development model — but at much larger scale and capital base.
- ITM Power: UK-based PEM electrolyzer manufacturer with GW-scale manufacturing capacity and global project pipeline. Direct competitor in European PEM electrolyzer market; comparable technology and customer segments, with a public listing providing scale H2B2 plans to access via Nasdaq.
- thyssenkrupp Nucera: German electrolyzer specialist (PEM and alkaline) with multi-GW project references. Direct competitor in EU and global industrial hydrogen markets; comparable in offering project development, EPC, and electrolyzer products, but with substantially larger balance sheet.
- Plug Power: US hydrogen fuel cell and electrolyzer company targeting mobility, material handling, and stationary applications. Direct competitor in PEM electrolyzer supply and green hydrogen production; comparable vertical integration from equipment to end-use applications.
- Cummins Accelera: US-based electrolyzer and fuel cell business (formerly Cummins Hydrogen) with PEM and alkaline products. Directly comparable in PEM electrolyzer product portfolio and customer segments (industrial, mobility, data centers); backed by Cummins' corporate balance sheet.
- John Cockerill: Belgian engineering group with large-scale alkaline and PEM electrolyzer offerings. Comparable as integrated provider of electrolyzer equipment and hydrogen plant EPC; similar project development and industrial customer focus.
- McPhy Energy: French electrolyzer company with alkaline and PEM technology, focused on industrial and mobility applications in Europe. Closely comparable in size, European footprint, and end-market segmentation; a useful public-comp benchmark for H2B2's pre-IPO valuation.
- Sunfire: German SOEC and alkaline electrolyzer developer with industrial-scale deployments and EU policy support. Direct peer on next-generation high-temperature electrolysis — H2B2's SOEC platform competes head-to-head in efficiency and cost targets.
- Green Hydrogen Systems: Danish pressurized alkaline electrolyzer manufacturer with focus on green hydrogen production for industrial and mobility customers. Comparable in product positioning and target market; useful public-comp for pre-IPO valuation.
Emerging players
- Ohmium International: US/India-based PEM electrolyzer company focused on distributed green hydrogen production. Comparable in product line and target segments, and especially relevant as a competing PEM manufacturer with India manufacturing presence overlapping H2B2's Indian footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights8 records
Customer concentration
H2B2 social profiles
Digital presenceH2B2 compliance and trust
Trust signalCompliance3 records
H2B2 financial estimates
Financial estimateRevenue estimate
Valuation estimate
H2B2 leadership team
Management profileNumber of profiles
Profiles19 records
H2B2 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
H2B2 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about H2B2
What does H2B2 do?
H2B2 is a technology company that designs, manufactures, and sells modular PEM (Proton Exchange Membrane) electrolyzers ranging from 0.957 kg/h to 178 kg/h hydrogen capacity. The company also promotes, develops, finances, builds, operates, and maintains turnkey hydrogen production plants at MW scale, hydrogen refueling stations, and provides complete green hydrogen value chain solutions including EPC, O&M, and direct hydrogen sales.
Is H2B2 a public or private company?
H2B2 is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was H2B2 founded?
H2B2 was founded in 2016. It employs 11 to 50 people.
Where is H2B2 based?
H2B2 is headquartered in Sevilla, Spain, in the Europe region.
How does H2B2 make money?
Five revenue lines are on record. Electrolyzer Manufacturing & Sales are the primary driver. The others are hydrogen Production Plant Development (EPC), operations & Maintenance (O&M), project Development & Financing and hydrogen Sales.
Who are H2B2's main competitors?
Direct peers on record are Nel ASA, ITM Power, thyssenkrupp Nucera, Plug Power, Cummins Accelera, John Cockerill, McPhy Energy, Sunfire and Green Hydrogen Systems. Ohmium International is listed as an emerging player.
Does H2B2 have an API?
No public API is recorded for H2B2.
What industry is H2B2 in?
H2B2's product category is Hydrogen Production Equipment. Its primary akta.pro industry code is IMAGAHAM, Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems), with a secondary code of EUAJAJAH, Power-to-Gas (P2G) / Electrolysis Integration & Operations. Its NAICS code is 335 and its SIC code is 3621.