On June 22, 2022, Electric Hydrogen Co. closed the transaction. The company has amended the terms of the transaction.

The company now received $198,000,000 in the transaction. The round of funding led by new investor, Fifth Wall Climate Technology Fund, L.P., a fund co-managed by Fifth Wall Ventures Management, LLC and Fifth Wall Asset Management, LLC, Asset Management Arm. The transaction also included participation from new investors, S2G Ventures, The Climate Pledge Fund, a fund managed by Amazon.com Inc., Investment Arm, Cosan S.A., Equinor Technology Invest, Mitsubishi Heavy Industries, Ltd., Rio Tinto Group, Honeywell International Inc. and returning investors, Energy Impact Partners LLC, Prelude Ventures, LLC, Capricorn Investment Group LLC, Breakthrough Energy LLC.

The company received venture debt from new investors, Trinity Capital Inc. and SVB Silicon Valley Bank, Investment Arm. The company has issued equity and venture debt in the transaction.