Hydrogen’s New Power Play in US

Electric Hydrogen’s $400M deal and acquisition aim to fast-track U.S. hydrogen projects

13 Oct 2025

Electric Hydrogen has acquired project developer Ambient Fuels and entered a $400mn financing partnership with Generate Capital, in a move designed to speed up the delivery of large-scale hydrogen projects across the U.S.

The dual transaction, completed in May 2025, combines Electric Hydrogen’s electrolyser manufacturing with Ambient’s project development pipeline and Generate’s capital access. The company said the integration would reduce project risk and help move developments from concept to construction more efficiently.

Generate Capital, a previous investor in Ambient, will not merge with Electric Hydrogen but will provide selective project financing for schemes originated or co-developed by the company. “Generate Capital is determined to accelerate the transition to low-carbon molecules by offering leading project finance capabilities in close collaboration with skilled developers and innovative technologies,” said Scott Gosselink, managing director at Generate. “Working with Electric Hydrogen, we can help solve current finance and bankability challenges and reduce the levelized cost of hydrogen.”

Electric Hydrogen said the acquisition embeds development expertise, rights-of-way and engineering capacity into its platform. Jacob Susman, formerly chief executive of Ambient and now head of development at Electric Hydrogen, said the partnership would appeal to customers seeking to outsource hydrogen plant delivery rather than manage project risk internally.

The agreement comes as U.S. federal support under the Inflation Reduction Act and the Department of Energy’s hydrogen hub programme has drawn fresh investment into clean hydrogen. Despite this, the sector faces continued challenges from high costs, lengthy permitting and supply chain delays.

Electric Hydrogen’s integrated structure is intended to address some of these obstacles by aligning technology, project execution and financing within a single framework. Analysts said the approach reflects a broader shift in hydrogen infrastructure towards financial discipline as well as technical capability.

The company detailed the acquisition and funding arrangement in a statement titled “Electric Hydrogen acquires Ambient Fuels; establishes global project financing capability with Generate Capital.”