Company Overview
About Electric Hydrogen
Electric Hydrogen is a Natick, Massachusetts-based clean energy company founded in 2020 by Raffi Garabedian (former CEO of First Solar) and David Eaglesham. The company designs and manufactures large-scale industrial electrolyzers — systems that use electricity to split water into hydrogen and oxygen — intended to produce green hydrogen at the cost and scale required to decarbonize heavy industries. Electric Hydrogen's core product is a 100MW electrolyzer plant that represents one of the largest single electrolyzer systems commercially available, designed for industrial customers in steel, ammonia, chemicals, and fuel production who need hydrogen at massive volumes.
Business Model & Competitive Advantage
The company's engineering focus is on capital cost reduction and efficiency improvement — the two primary factors that determine the levelized cost of green hydrogen production. Electric Hydrogen has claimed industry-leading system efficiency and has engineered its stacks and balance-of-plant components to minimize total system cost at the 100MW scale. Its manufacturing approach leverages supply chain and engineering strategies from the solar industry, where Garabedian's experience at First Solar is directly applicable to driving down costs through manufacturing scale and design optimization.
Competitive Landscape 2025–2026
Electric Hydrogen raised $380M in total funding, including a $200M Series C in 2023 co-led by Fifth Wall, Breakthrough Energy Ventures, and others. The company has signed commercial agreements with industrial customers and is scaling manufacturing capacity to meet demand from the green hydrogen buildout enabled by the US Inflation Reduction Act (IRA) — which provides up to $3/kg in production tax credits for green hydrogen — as well as European hydrogen policy incentives. Electric Hydrogen competes with Nel Hydrogen, Plug Power, ITM Power, and ThyssenKrupp Nucera in the industrial electrolyzer market.
Key Differentiators
Strong Challenger
Electric Hydrogen is an established challenger with significant market presence and competitive offerings in Climate & Energy.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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