P2X Solutions announced raising €2 million from Lifeline Ventures

P2X Solutions, a Helsinki, Finland-based manufacturer of renewable hydrogen solutions, announced the completion of a €2 million ($2.4M) capital funding round.

The money was raised from the local venture company from Finland Lifeline Ventures, joined by the angel investor Marjo Miettinen.

Timo Ahopelto, partner at Lifeline Ventures, will join the board of P2X Solutions, Marjo Miettinen will continue as a member of the board and Esa Härmälä will continue as Chairman of the Board.

P2X Solutions, founded in 2020 by CEO Herkko Plit, operates as a producer and distributor of green hydrogen and synthetic fuel, and also deliver hydrogen plants on a turnkey basis.

The company says it completed the concept of the first industrial-scale green hydrogen production plant and begun its Front-end Engineering Design. The plant is intended to be replicable elsewhere in Finland and around the world. In addition, the company has investment plans for building a hydrogen distribution infrastructure.