STIC Investments
Assembly Line
H2, Inc. Secures $16 Million in Bridge Funding to Expand Flow Battery Manufacturing Capacity
H2, Inc., an industry-leading vanadium flow battery (VFB) developer and manufacturer headquartered in South Korea, successfully raised $16 million in recent bridge funding, finalized in the second half of 2024. This brings the company’s total accumulated funding to $77 million. The round was led by STIC Investments which is one of the largest and a leading private equity firm in Korea, with participation from KRUN Ventures and Lighthouse Combined Investment.
The newly raised capital will be primarily allocated to constructing the company’s new, state-of-the-art K2 Plant. This facility will significantly expand H2’s manufacturing capacity to 1.2 GWh per annum, marking a major milestone in the global flow battery and long-duration energy storage industry. Scheduled to begin operations in 2026, the K2 Plant will triple the current capacity of the K1 Plant, which stands at 330 MWh per year. The company has already secured the land for the K2 Plant to achieve its target annual production capacity as quickly as possible.