What is FirstElement Fuel?
FirstElement Fuel, established in 2013 and headquartered in Newport Beach, California, is at the forefront of developing and providing retail hydrogen fueling solutions for fuel cell-powered vehicles. The company is instrumental in building out the necessary infrastructure to support the burgeoning hydrogen economy, positioning itself as a key player in the transition towards cleaner transportation alternatives. Its operations are critical for the widespread adoption of hydrogen fuel cell technology in the automotive sector.
How much funding has FirstElement Fuel raised?
FirstElement Fuel has raised a total of $129.3M across 3 funding rounds:
Private Equity
$24M
Debt
$350K
Series D
$105M
Private Equity (2019): $24M, investors not publicly disclosed
Debt (2020): $350K led by PPP
Series D (2021): $105M supported by Air Water, Japan Infrastructure Initiate, Nikkiso, and MUFG Bank
Key Investors in FirstElement Fuel
Air Water
Air Water is a diversified Japanese manufacturing company with a broad business scope including energy and ecology, known for its extensive industrial operations and global presence.
Nikkiso
Nikkiso is a Japanese company specializing in precision manufacturing across medical, aerospace, and industrial sectors, contributing advanced technologies and materials.
MUFG Bank
MUFG Bank is Japan's premier financial institution, offering comprehensive commercial and investment banking services globally, with a significant presence in supporting major industrial ventures.
What's next for FirstElement Fuel?
The recent major strategic investment in FirstElement Fuel signals a strong confidence in the company's growth trajectory and its capacity to scale operations. This infusion of capital is expected to accelerate the expansion of its retail hydrogen fueling network, enhance technological capabilities, and solidify its market position. As the demand for sustainable transportation solutions continues to rise, FirstElement Fuel is strategically poised to capitalize on this momentum, driving innovation and accessibility in the hydrogen fueling sector.
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