Faber and CSN Inova are the main investors, with participation from Asiri LLC, Gibson Lane GmbH, Aquarius Capital, and Ecoa Capital.
The manufacturer of water electrolysis systems to produce green hydrogen 1s1 Energy has completed a $2.15 million investment round. According to a statement released this Wednesday, Faber and CSN Inova are the key investors, with participation from Asiri LLC, Gibson Lane GmbH, Aquarius Capital, and Ecoa Capital.
This round will allow 1s1 Energy Portugal to complete the planning stages of Hy2Tech, the first hydrogen project on Portuguese soil to earn the label of an Important Project of Common European Interest (IPCEI). The selected project, valued at €63 million, envisages establishing research and development (R&D) operations and manufacturing 300 megawatt/year electrolysers in Portugal, allowing the creation of 86 jobs.
“We are very excited to join 1s1 Energy at this turning point and help lay the foundations to execute the IPCEI project and future development,” says Faber’s partner, Carlos Esteban, quoted in the statement. According to him, “1s1Energy’s unique solution will speed up the use and production of green hydrogen, which is key to decarbonising difficult-to-decarbonise sectors such as heavy industry and heavy transport, including shipping.”
Founded by experienced chemists, engineers and entrepreneurs, 1s1 Energy is developing electrolysers for the cost-effective production of green hydrogen.