H2, Inc. Raises USD 16 Million to Expand Vanadium Flow Battery Capacity with New K2 Plant

South Korea-based H2, Inc., a leading vanadium flow battery (VFB) developer, has successfully raised USD 16 million in a recent bridge funding round, bringing its total funding to USD 77 million.

As per the firm's statement, the round, finalised in late 2024, was led by STIC Investments, one of Korea’s largest private equity firms, with additional backing from KRUN Ventures and Lighthouse Combined Investment.

The new funding will drive the construction of H2’s advanced K2 Plant, set to triple the company’s manufacturing capacity to 1.2 GWh annually by 2026. The state-of-the-art facility, which has already secured land, will expand on the existing 330 MWh annual capacity of the K1 Plant, positioning H2 as a global leader in long-duration energy storage.

The K2 Plant will produce H2's flagship EnerFLOW series, including the 500 series for 4-hour storage and the 600 series for 8-hour or longer applications. The EnerFLOW 600 series features H2’s proprietary HYPERSTRUCTURE technology, reducing system footprints.

The first EnerFLOW 640 units are slated for deployment in Spain's largest VFB project, an 8.8 MWh installation set for mid-2025. Additionally, the facility will support mass production of UL-certified, high-performance 5000-series VFB stacks, a key component for success in the VFB market.

Dr. Shin Han, founder and CEO of H2, Inc., stated, "The successful bridge funding strongly validates H2's commercial readiness in terms of product quality and mass production capability. The forthcoming K2 Plant will be a pivotal asset, enabling us to meet the growing global demand for sustainable, long-duration energy storage solutions that enhance grid resilience and support renewable energy adoption."