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Secondary marketplace / Explore private companies / Electric Hydrogen IPO
Electric Hydrogen

Electric Hydrogen IPO

$1.39B
Series C-1 Valuation, May 2025
Unicorn
Buy And Sell Electric Hydrogen StockLearn More About Electric Hydrogen StockAdd To Watchlist
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Electric Hydrogen IPO date and status

2020
Founded
IPO Mentioned
Confidential Filing
S-1 Filed
IPO

Company details

Electric Hydrogen was founded in 2020 by David Eaglesham, focusing on delivering transformational low-cost Hydrogen. They focus on offering a complete solution, having powerful advanced PEM technology and an efficient dynamic operating system to improve conversion efficiency. Being split up by coast, the East Coast manages cell engineering, where they develop, test, and scale their electrolyzer technology. Whereas the West Coast is the home of the Prototype plant.
eh2.com
Sector
Energy
Subsector
Clean Energy
Founded
2020
Headquarters
Natick, MA, United States
Founders
David Eaglesham, Derek Warnick, Dorian West, Raffi Garabedian
Forge Price 1
Price not yet available
Market Activity 2
Limited
Last Matched Price
Get Full Access
Post-Money Valuation 3
$1.39B
Total Funding
$545.57MM
Last Funding Round
Series C-1

Learn more about Electric Hydrogen

To invest in Electric Hydrogen pre-IPO

Can you invest in Electric Hydrogen pre-IPO?

Electric Hydrogen is privately held and not traded on public markets, so pre-IPO investments are available only to accredited investors.

If you’re already accredited and have completed Forge’s verification, you can visit our marketplace to review and invest in private companies ahead of an IPO.

If you haven’t yet completed your accredited investor verification with Forge, you can start that process now to unlock access to new private-company offerings.

For more on who qualifies—and how to get verified—see our blog “Accredited investors, qualified clients and qualified purchasers: Who can invest?”

Can you sell shares of Electric Hydrogen before it goes public?

Yes, subject to any contractual or corporate transfer restrictions, it is possible to list your shares to sell while Electric Hydrogen is still private. If you’re considering selling, you can register today for free to get started. Once registered, you can evaluate pricing insights and market activity to inform your decision, then post your shares for sale and set the terms, like quantity and price—all directly through our platform.

If you’d like additional guidance at any point, Forge private market specialists are available to help. For a step-by-step overview, check out our seller’s guide.

What is the pre-IPO value of my Electric Hydrogen shares?

To explore the value of your Electric Hydrogen shares, create a free account to access Forge’s marketplace. Once inside, you’ll find several pricing insights to help guide your decision—these include historical transaction data, a live order book showing current buy and sell interest, and Forge Price™, a derived, indicative price based on recent transactions, investor activity, and other relevant market data.

These insights can help you determine a price you’re comfortable with if you choose to sell your shares. If you’d like additional guidance along the way, Forge private market specialists are available to help. You can also review our seller’s guide for a step-by-step overview.

Is Electric Hydrogen a publicly traded company?

Electric Hydrogen is a private company and not publicly traded.

If you’re interested in buying or selling shares in private companies, you can register with Forge today for free to explore available opportunities. Once registered, you’ll gain access to our marketplace, where you can view active buy and sell interest, evaluate pricing signals and take action directly through the platform.

To learn more about Electric Hydrogen potential IPO

Will Electric Hydrogen go IPO?

Electric Hydrogen has not yet filed for an IPO. However, it’s important to note that IPOs are not the sole avenue for a private company to transition to public trading. Private companies can also go public through alternative methods such as but limited to Special Purpose Acquisition Companies (SPACs), direct listings, or mergers and acquisitions. Find out which companies are eyeing an IPO on our Tech IPO Calendar 2025.

What is Electric Hydrogen’s IPO price?

The Electric Hydrogen IPO price does not exist at this time, as Electric Hydrogen is still a private company and has not yet conducted an IPO. To explore secondary market data and access private market pricing details and data that may be related to Electric Hydrogen, register for Forge today.

When was Electric Hydrogen founded?

Electric Hydrogen was founded in 2020.

What is Electric Hydrogen funding to date?

Electric Hydrogen has raised $545.57MM to date.

Electric Hydrogen major investors

Amazon.Com
Bp Ventures
Breakthrough Energy Ventures
Capricorn Investment Group
Cosan
Energy Impact Partners
Equinor Ventures
Fatima Group
Fifth Wall
Fortescue Future Industries
Honeywell Ventures
Kajima
Microsoft Climate Fund
Mitsubishi Heavy Industries
New Legacy
Oman Investment Authority
Prelude Ventures
Rio Tinto
S2g Ventures
Svb Financial Group
Temasek Holdings
Terra Talent
The Climate Pledge
Trinity Capital Investment
United Airlines Ventures
Show All InvestorsShow Fewer Investors

Electric Hydrogen pre-IPO valuation and funding rounds

Funding history chart
Funding round and deals details
Funding Date Round Amount Raised Price per Share Post-Money Valuation 3 Key Investors
05/23/2025 Series C-1 $979,980.31 $6.89 $1.39B Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
142,281
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
10/03/2023 Series C $380.65MM $5.74 $1B Bp Ventures, Breakthrough Energy Ventures, Capricorn Partners, Climate Innovation Fund, Climate Pledge Fund, Energy Impact Partners, Equinor Ventures, Fatima Holdings Usa, Fifth Wall, Fortescue, Kajima Ventures, Mitsubishi, New Legacy, Oman Investment Authority, Prelude Ventures, Rio Tinto, S2g Ventures, Temasek, United Airlines
Price per Share
$ xx.xx
Shares Outstanding
66,318,787
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bp Ventures, Breakthrough Energy Ventures, Capricorn Partners, Climate Innovation Fund, Climate Pledge Fund, Energy Impact Partners, Equinor Ventures, Fatima Holdings Usa, Fifth Wall, Fortescue, Kajima Ventures, Mitsubishi, New Legacy, Oman Investment Authority, Prelude Ventures, Rio Tinto, S2g Ventures, Temasek, United Airlines
06/22/2022 Series B-1 $126.84MM $3.97 $505.87MM Breakthrough Energy Ventures, Capricorn Partners, Climate Pledge Fund, Cosan, Energy Impact Partners, Equinor Ventures, Fifth Wall Climate Tech, Honeywell, Mitsubishi, Prelude Ventures, Rio Tinto, S2g Ventures, Silicon Valley Bank, Trinity Capital
Price per Share
$ xx.xx
Shares Outstanding
31,982,763
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Breakthrough Energy Ventures, Capricorn Partners, Climate Pledge Fund, Cosan, Energy Impact Partners, Equinor Ventures, Fifth Wall Climate Tech, Honeywell, Mitsubishi, Prelude Ventures, Rio Tinto, S2g Ventures, Silicon Valley Bank, Trinity Capital
06/22/2022 Series B-2 $12.49MM $1.88 $505.87MM Breakthrough Energy Ventures, Capricorn Partners, Climate Pledge Fund, Cosan, Energy Impact Partners, Equinor Ventures, Fifth Wall Climate Tech, Honeywell, Mitsubishi, Prelude Ventures, Rio Tinto, S2g Ventures, Silicon Valley Bank, Trinity Capital
Price per Share
$ xx.xx
Shares Outstanding
6,633,051
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Breakthrough Energy Ventures, Capricorn Partners, Climate Pledge Fund, Cosan, Energy Impact Partners, Equinor Ventures, Fifth Wall Climate Tech, Honeywell, Mitsubishi, Prelude Ventures, Rio Tinto, S2g Ventures, Silicon Valley Bank, Trinity Capital
06/23/2021 Series A $23.86MM $1.09 $80.83MM Breakthrough Energy Ventures, Capricorn Partners, Prelude Ventures
Price per Share
$ xx.xx
Shares Outstanding
21,797,100
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Breakthrough Energy Ventures, Capricorn Partners, Prelude Ventures
12/31/2020 Series Seed $749,992.50 $0.03 $1.5MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
22,500,000
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors

Electric Hydrogen IPO news and media highlights

PR Newswire 03/20/2024

Hy Stor Energy and Schneider Electric Collaborate to Advance Integrated, Off-Grid Green Hydrogen Production and Energy Storage at Scale

Schneider Electric, the leader in the digital transformation of energy management and automation, and Hy Stor Energy, a company pioneering carbon-free renewable hydrogen production and long-duration storage at scale, today announced they have signed a memorandum of understanding (MOU) to support the development of Hy Stor Energy's Mississippi Clean Hydrogen Hub (MCHH) and its broader U.S. development platform. In this partnership, Schneider Electric and Hy Stor Energy are solving large-scale energy and sustainability challenges that are required to transition to a renewable and fossil-free energy system.
PR Newswire 03/05/2024

Trinity Capital Inc. Provides $50 Million in Equipment Financing to Electric Hydrogen

Trinity Capital Inc., a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $50 million in equipment financing to Electric Hydrogen, a manufacturer of electrolyzer systems that produce green hydrogen for critical industries. Electric Hydrogen's electrolyzer systems are complete chemical plants that produce green hydrogen from renewable electricity and water, allowing for the decarbonization of industrial processes such as fertilizer production, steelmaking, base chemical production, and more. Electric Hydrogen's 100 megawatt electrolyzer plant produces nearly 50 tons of green hydrogen each day at an ultra-low cost.
TechCrunch 10/03/2023

Electric Hydrogen is the green hydrogen industry’s first unicorn

Investors have historically been skeptical of green hydrogen. High production costs, expensive infrastructure builds, competition with batteries and minimal government support have made the green hydrogen sector a risky bet. But at least one company, Electric Hydrogen, seems to have found a way to convince investors that its tech is a bet they should take. Electric Hydrogen (EH2), a Massachusetts-based green hydrogen technology company, has just become green hydrogen’s first unicorn, with a $380 million Series C raise that brought its valuation up to $1 billion.
WSJ 10/02/2023

The Secret Behind the First $1 Billion Green Hydrogen Startup

Hundreds of companies have promised to produce large amounts of green hydrogen, but none have succeeded. Electric Hydrogen believes the secret to success is finding a better way to split a molecule. Investors believe it too. The company is the green hydrogen industry’s first unicorn. It recently raised $380 million from backers including BP, United Airlines, Microsoft and iron-ore producer Fortescue Metals. That pushed it over the magical $1 billion mark.
Browse More Insights

Private companies exploring an IPO

See which private companies are preparing for the public market. Register to get full access to the latest secondary market pricing data.

Sector: Energy
Subsector: Clean Energy
Trade Metrics Last Funding Round
Company Forge Price Last Matched Round Post-Money Valuation 3 Price Per Share Amount Raised
Fervo EnergyFervo EnergyNot available$ xx.xxSeries E-1$2.86B$8.17$443.98MM
Sion PowerSion PowerNot available$ xx.xxSeries A-2$425.6MM$1.42$62.5MM
See Tech IPO Calendar

Private market movers

Track trading activity and investor momentum across thousands of private companies. Register to view last matched prices and additional transactional details.

Actively traded

Company Forge Price Market Activity Last Matched
Anthropic Anthropic $259.14 -$13.84 (5.07%)High $xxx.xx
OpenAI OpenAI $723.12 +$0.12 (0.02%)High $xxx.xx
SpaceX SpaceX $603.79 +$2.52 (0.42%)High $xxx.xx
Anduril Anduril $110.97 +$4.00 (3.74%)High $xxx.xx
Databricks Databricks $197.66 +$0.01 (0.01%)High $xxx.xx
See All Actively Traded Companies

Artificial Intelligence (AI)

Company Forge Price Market Activity Last Matched
Anthropic Anthropic $259.14 -$13.84 (5.07%)High $xxx.xx
OpenAI OpenAI $723.12 +$0.12 (0.02%)High $xxx.xx
Anduril Anduril $110.97 +$4.00 (3.74%)High $xxx.xx
Databricks Databricks $197.66 +$0.01 (0.01%)High $xxx.xx
Perplexity Perplexity $69.54 +$6.59 (10.47%)High $xxx.xx
See All AI Companies

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Updated on: Jul 15, 2025

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