What is FirstElement Fuel?
Established in 2013 and headquartered in Newport Beach, California, FirstElement Fuel specializes in the development and operation of retail hydrogen fueling stations. The company serves as a foundational pillar for the hydrogen economy, providing the essential infrastructure required for fuel cell electric vehicles. By focusing on high-performance refueling technology, FirstElement Fuel addresses the primary barrier to mass-market adoption of hydrogen-powered transport, positioning itself as a leader in the sustainable energy sector. Their business model integrates advanced engineering with strategic site selection to optimize the availability of hydrogen fuel for both commercial and passenger fleets.
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, Nikkiso, Japan Infrastructure Initiate, and MUFG Bank
Key Investors in FirstElement Fuel
Air Water
Air Water is a diversified Japanese manufacturing conglomerate with extensive operations in the energy, chemical, and medical sectors, providing industrial expertise to support large-scale infrastructure projects.
Nikkiso
Nikkiso Co., LTD. is a Tokyo-based manufacturer specializing in precision equipment, fluid technologies, and aerospace components, bringing deep engineering capabilities to the hydrogen fueling space.
MUFG Bank
MUFG Bank is a premier global financial institution headquartered in Tokyo, offering comprehensive commercial and investment banking services to support large-scale capital-intensive energy initiatives.
What's next for FirstElement Fuel?
With the support of major institutional backers, FirstElement Fuel is poised to accelerate its infrastructure rollout, targeting key corridors to enhance the viability of hydrogen-based mobility. The company's strategic roadmap likely involves scaling its network density to meet the rising demand from heavy-duty transport sectors and automotive manufacturers committed to fuel cell technology. As the global energy transition intensifies, FirstElement Fuel is well-positioned to leverage its existing capital to secure long-term partnerships, optimize supply chain efficiencies, and solidify its dominance in the retail hydrogen market. Future growth will likely focus on technological integration and the expansion of its footprint into emerging markets where hydrogen is viewed as a primary solution for decarbonizing the transportation sector.
See full FirstElement Fuel company page
