H Cycle, a U.S.-based low-cost renewable hydrogen producer, has raised an undisclosed amount in a Series A financing round.
The round was co-led by Canadian private equity firm Azimuth Capital Management’s new Azimuth V Energy Evolution Fund and ENEOS Innovation Partners LLC.
H Cycle, with a $2 billion portfolio of prospective capital investments, intends to utilize the proceeds secured from the round to align with strategic partners that can provide operating experience.
Moreso, the startup will also use the funds to secure growth capital to hasten its path to market and produce renewable, low-carbon hydrogen, using an innovative waste processing system and thermal conversion.