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December 08, 2022 | Tom Ballard

VCs, PE take a liking to hydrogen economy-focused companies

Hydrogen is all the rage when it comes to decarbonization efforts.

PitchBook reports that private capital is pouring into start-ups and established companies tied up in the growing hydrogen economy at never-before-seen levels.

According to this recent update, venture capital and private equity (PE) firms have deployed more capital into global companies making, moving or using hydrogen – or planning to do so – in 2022 than any prior year. And on the venture side, total deal count also broke a record this year.

Through most of 2022, PE firms spent $3.1 billion on hydrogen-related companies across 37 deals, while VCs invested $2.6 billion, in 192 start-ups. Since 2014, the number of annual VC hydrogen deals has more than tripled as PE deal count quadrupled.

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