On September 8, 2025, Electric Hydrogen, a U.S. manufacturer of advanced electrolyzers, announced it has acquired Ambient Fuels, a leading hydrogen project developer. Adding Ambient Fuels’ deep development expertise and portfolio of U.S. project sites will expand Electric Hydrogen’s ability to partner with customers on co-development of hydrogen projects and provide dedicated capital resources where appropriate. As part of the transaction, Electric Hydrogen also entered into a strategic relationship with Generate Capital, a leading infrastructure investment platform and former investor in Ambient Fuels, to offer up to $400 million in hydrogen project finance solutions around the globe. Wilson Sonsini Goodrich & Rosati advised Ambient Fuels in the transaction.

This complementary relationship combines Electric Hydrogen’s industry leading electrolyzer technology with project financing to create attractive offerings for customers seeking the lowest levelized cost of hydrogen. The combination of project development expertise and financing also enables Electric Hydrogen to originate, buy, and sell large-scale clean hydrogen projects.

The Wilson Sonsini team that advised Ambient Fuels on the transaction includes Bob O’Connor, Scott Zimmerman, Jason Slagle, Ethan Lutske, and Jessica Remlinger.

For more information, please see Ambient Fuels’ news release.