Every technology tracked, from class to segment: the leading companies, the projects deploying it, the minerals it depends on, and funding open right now.
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Projects tracked
0
0 operating · 0 in construction
Capital committed
Not disclosed
no project-level financing disclosed yet; company raises are on Capital
Companies tracked
25
ranked on this page
Operating capacity
None yet
nothing operating yet
Next milestone
Dec 31, 2027
45V: clean hydrogen
Coming up
POLICY45V: clean hydrogen
Facilities must begin construction before Jan 1, 2028. Affects Hydrogen, Electrolyzers.
+ THESISPOLICY45Q: carbon capture
Facilities must begin construction before 2033; inflation indexing starts in 2027. Affects Hydrogen.
+ THESISPOLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Hydrogen.
+ THESISOTHERBloom Energy: Bloom Energy reports record Q3 2026 revenue, raises 2026 guidance
Q3 2026 revenue was $1,235.8M (+138.1% YoY) and non-GAAP EPS $0.94. Full-year 2026 revenue guidance raised to $4.4B–$4.6B; the company also said it was added to the S&P 500. Q3 free cash flow was negative $181M.
sec.gov →+ THESISFUNDING · SEC FORM DKoloma: private raise reported (amended)$61M
Offering size $65,000,000
sec.gov →+ THESISCONTRACTNel ASA: Nel Hydrogen US secures about $12M containerized PEM order
Nel Hydrogen US received an order worth about USD 12 million from an undisclosed U.S. global technology company for multiple containerized MC-series PEM electrolysers, with delivery expected in 2027 and stacks made in Wallingford, Connecticut.
renewablesnow.com →+ THESISPROJECTthyssenkrupp nucera: Nucera picks Portugal site for first self-operated cell assembly center
The company will build its first self-operated electrolysis cell assembly center in Europe, located in Vila Nova de Gaia, Portugal. Cell assembly there is not expected until 2028, per the report.
ad-hoc-news.de →+ THESISCONTRACTNel ASA: Nel Hydrogen US wins Collins Aerospace submarine PEM stack orders
Nel Hydrogen US received a PEM electrolyser stack order from Collins Aerospace valued around $12 million, followed by further submarine life-support stack orders reported on September 30, 2026.
indexbox.io →+ THESISCONTRACTthyssenkrupp nucera: Nucera secures chlor-alkali order from Hongniu Lanzhou, China
The company announced a new chlor-alkali order from Hongniu Lanzhou in China. The release did not disclose a contract value in the retrieved listing.
thyssenkrupp-nucera.com →+ THESISSwedish firm Metacon announced the European launch of partner PERIC's next-generation pressurised alkaline electrolyser stacks, to be deployed in ongoing and future commercial projects. Metacon's earlier licensing extension lets it manufacture PERIC-designed stacks in a planned European gigafactory.
hydrogeninsight.com →+ THESISOTHERSiemens Energy: Siemens Energy prepares standalone Transformation of Industry business
The company began preparing legal and operational separation of its Transformation of Industry business area, intending to deconsolidate it while retaining a meaningful minority stake.
siemens-energy.com →+ THESISPROJECTPERIC (CSSC 718th Institute): PERIC ships 7.5MW alkaline electrolyzer system to Romania
Hydrogen Insight reported that PERIC shipped a 7.5MW system to a Romanian green hydrogen project, one of the latest shipments into the EU. FuelCellsWorks also reported completed delivery of the 7.5MW alkaline equipment.
hydrogeninsight.com →+ THESISPROJECTElectric Hydrogen: Perdaman names Electric Hydrogen preferred electrolyzer vendor for Project Helios
Perdaman picked Electric Hydrogen as preferred electrolyzer supplier for the next stage of Project Helios Phase 2 in Karratha, Western Australia, a project described as including over 1 GW of solar PV and producing more than 120 tonnes per day of green hydrogen for Project Ceres. This follows a pre-FEED engineering agreement between the two companies.
eh2.com →+ THESISWater electrolysis: alkaline, PEM, solid-oxide (SOEC) and AEM.
Natick, MA, USA · Large-format PEM electrolyzer plants
Not yet sourced?
No dated updates yet
San Jose, CA, USA · Modular PEM electrolyzers; factory in Nevada
Commercial?
No dated updates yet
Moss Landing, CA, USA · Advanced alkaline electrolyzers (eDynamic)
Commercial
No dated updates yet
USA · Low-cost AEM electrolyzer stacks
Scaling?
No dated updates yet
Ithaca, NY, USA · Anion-exchange membrane (AEM) electrolyzers and polymers
Scaling
No dated updates yet
Milwaukee, WI, USA · Steam electrolyzers that use industrial waste heat
Early commercial
No dated updates yet
Houston, TX, USA · H2Gen reactor making hydrogen from steel-mill and industrial off-gases
Early commercial
No dated updates yet
Slingerlands, NY, USA · PEM electrolyzers and fuel cells, liquid hydrogen supply
$710M total; $187M electrolyzers
Public (NASDAQ: PLUG) · FY2025 · stocktitan.net
thyssenkrupp nuceraunverified
Dortmund, Germany · Alkaline electrolyzers (shipped 1 GW+ for NEOM); abandoned own SOEC mass-production plans Aug 2026
Not yet sourced
Public (FRA: NCH2) · hydroxpand.com
LONGi Hydrogenunverified
Xi'an, China · Alkaline electrolyzers
Among the largest-volume suppliers globally
Not public
Subsidiary of LONGi Green Energy · hydroxpand.com
PERIC (CSSC 718th Institute)unverified
Handan, China · Alkaline electrolyzers
Not public
State-owned · hydroxpand.com
Sungrow Hydrogenunverified
Hefei, China · Alkaline and PEM electrolyzers
Not public
Subsidiary of Sungrow Power · hydroxpand.com
Siemens Energyunverified
Munich, Germany · Transformers, switchgear, HVDC
Not broken out
Public (FRA: ENR) · Aug 2026 · hydroxpand.com
Nel ASAunverified
Oslo, Norway · Alkaline (pressurized platform; new Herøya production line being built) and PEM electrolyzers
Not yet sourced
Public (OSE: NEL) · hydroxpand.com
Sheffield, UK · PEM electrolyzers
£26.0M
Public (LSE: ITM) · Nov 2026 · asktraders.com
Topsoeunverified
Lyngby, Denmark; Chesterfield, VA plant · Solid-oxide electrolyzers (SOEC); planned factory in Chesterfield, VA
Commercial
Private · Nov 2026 · topsoe.com
Converting hydrogen or natural gas to power: PEM and solid-oxide (SOFC).
Danbury, CT, USA · Carbonate and solid-oxide fuel cells for power and hydrogen
Commercial
No dated updates yet
Brooklyn, NY, USA · Ammonia-to-power systems (cracking plus fuel cells)
Early commercial (ammonia-to-power)
No dated updates yet
Austin, TX, USA · Redesigns membranes and advanced materials used in hydrogen electrolyzers and fuel cells.
Early R&D?
Updated 4 days ago · Stage updated
San Jose, CA, USA · Solid-oxide fuel cells (mainly natural-gas power for data centers) and SOEC electrolyzers
Most revenue is natural-gas fuel cells, not hydrogen
$2.02B
Public (NYSE: BE) · FY2025 · investor.bloomenergy.com
Exploring for hydrogen made naturally underground.
Splitting natural gas into hydrogen and solid carbon, no CO2.
Lincoln, NE, USA · Methane pyrolysis making hydrogen and carbon black (Olive Creek, NE)
Commercial
No dated updates yet
Hydrogen production at scale and underground storage.
Delta, UT, USA · Electrolysis plus salt-cavern hydrogen storage in Delta, UT (Mitsubishi Power and HDR)
Commercial (hub)
No dated updates yet
Allentown, PA, USA · Industrial gases; large hydrogen producer and hydrogen projects
Commercial
Public (NYSE: APD) · Nov 2026 · airproducts.com
What hydrogen depends on, what each input does in this technology, and how exposed it is (red high, blue medium, green low). Prices are 2025 averages (USGS); live prices arrive with Markets.
Catalyst in PEM electrolyzer cathodes and fuel cells.
Largest producer: South Africa
Anode catalyst in PEM electrolyzers; the scarcest input in the hydrogen chain.
Porous transport layers and bipolar plates in PEM electrolyzers (resists the acidic, oxidizing environment).
Largest producer: China
Yttria stabilizes zirconia electrolytes in solid-oxide cells.
Largest producer: China
Electrodes in alkaline electrolyzers and anodes in solid-oxide cells.
Largest producer: Indonesia
Zirconia ceramic electrolyte in solid-oxide electrolyzers and fuel cells (Bloom Energy).
Largest producer: Australia
Texas Emissions Reduction Plan (TCEQ)
Rural Business-Cooperative Service · RDBCP-REAP-RES-EEI-2019
Texas Emissions Reduction Plan (TCEQ)