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Generate Capital Makes $250M Green Hydrogen Bet

Generate Capital Makes $250M Green Hydrogen Bet

Sustainable infrastructure investor Generate Capital has made a $250 million investment in Ambient fuels, a green hydrogen developer that has previously received backing from SJF Ventures.

Ambient – which bills itself as the only ‘pure-play’ green hydrogen developer in the US – provides custom-engineers green hydrogen solutions and overseas the whole process, from project development to financing and construction of its hydrogen centers.

The company claims its technology-neutral approach can work with any renewable energy source to support industrial customers’ decarbonization at scale.

“Joining forces with a global sustainability leader such as Generate gives us access not only to the capital we need to grow our business but also to a trusted and strategic partner who is committed to our long-term success,” said Jacob Susman, chief executive officer of Ambient Fuels.

SJF Ventures led the seed financing for Ambient Fuels in 2021, and Dave Kirkpatrick, Co-founder and Managing Director of SJF, said it has now developed a “strong pipeline of green hydrogen projects.”

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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