What is FirstElement Fuel?
Established in 2013 and headquartered in Newport Beach, California, FirstElement Fuel is at the forefront of developing critical infrastructure for the adoption of hydrogen fuel cell technology. The company provides customers with retail hydrogen fueling solutions, aiming to power the next generation of vehicles. This strategic focus positions FirstElement Fuel as a key player in the transition towards cleaner transportation alternatives, addressing the growing demand for sustainable energy solutions 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 Japan Infrastructure Initiate, Nikkiso, MUFG Bank, and Air Water
Key Investors in FirstElement Fuel
Japan Infrastructure Initiate
Japan Infrastructure Initiate is likely a strategic backer focused on developing and funding essential infrastructure projects, aligning with FirstElement Fuel's mission to build out hydrogen fueling networks.
Nikkiso
Nikkiso, a diversified Japanese manufacturer with expertise in advanced materials and industrial products, provides strategic capital and potential technological synergies for FirstElement Fuel's infrastructure development.
MUFG Bank
MUFG Bank, a leading global financial institution, offers significant financial backing and expertise in large-scale project financing, supporting FirstElement Fuel's ambitious growth plans in the hydrogen energy sector.
What's next for FirstElement Fuel?
With the recent major strategic investment and substantial total funding, FirstElement Fuel is poised for significant expansion and operational scaling. This capital infusion is expected to accelerate the build-out of its hydrogen fueling network, enhance its technological capabilities, and potentially broaden its market reach. The company's trajectory suggests a strong commitment to establishing a robust hydrogen infrastructure, crucial for the widespread adoption of fuel cell vehicles and contributing to broader decarbonization efforts in the transportation industry.
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