A bio box for Electric Hydrogen
Updated: April 7, 2025
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2025 Manufacturing Excellence Awards
Manufacturing awards: With opening of Devens plant, Electric Hydrogen in prime position to kick off green revolution
photos | Courtesy of Electric Hydrogen
Devens-based Electric Hydrogen and CEO Raffi Garabedian are looking to drive down the cost of production for green hydrogen, hoping to reduce the use of fossil fuels in the process.
2025 Manufacturing Excellence Awards
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- General Manufacturing Excellence: Seaman Paper Co.
- Best Collaboration Award: Rocheleau Tool & Die Co. Inc.
- Manufacturing Champion - Large Company: Jim Knott Jr.
- Manufacturing Champion - Small Company: John Biagioni
- Rising Star: SpadXTech
- Workforce Development Award: Kinefac Corp.
- Product design & Innovation: Walchem, Iwaki America
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The cost to produce green hydrogen could decrease $1-per-kilogram by 2030, a key target set by regulators in order to use this cleaner energy source in the fight to reduce use of fossil fuels, according to research led by Gunther Glenk, a climate fellow at Harvard Business School. This promising source of clean energy can be used for rocket fuel, various industrial processes, and fuel cells used for electricity generation and powering vehicles.
If green hydrogen does indeed take the world by storm and help turn the tide against climate change, Devens-based Electric Hydrogen likely will be among the leaders of that charge.
“Unlike traditionally small and inefficient hydrogen systems, we build large-scale electrolyzer plants optimized for industrial use, which allows us to dramatically reduce costs through technological innovation, system design, and standardized manufacturing,” Raffi Garabedian, CEO and co-founder of Electric Hydrogen, wrote in a statement to WBJ. “By focusing on cost from the start, we’re able to dramatically reduce project costs by up to 60% compared to market alternatives.”
While its driving costs down, Electric Hydrogen has been raking in investments, becoming the first unicorn in the green hydrogen industry in 2023 when it received a valuation of more than $1 billion, according to TechCrunch.
The company already has more than 300 employees spread out across facilities in Devens, Natick, California, and Texas.
Having raised more than $700 million in funding for its endeavors from both public and private sources, according to the firm’s website, the company is laser-focused on producing the lowest-cost electrolysis process possible. This will be key in decarbonizing industrial processes in time to avoid the worst impacts of climate change.
“Our investors see the opportunity for clean hydrogen to transform energy and industry, and they recognize that Electric Hydrogen has the team and technology to deliver on its lowest-cost mission,” Garabedian wrote.
Electrolyzers are powerful machines that split water into hydrogen and oxygen.
When powered with renewable energy sources at manufacturing sites, they allow for production of hydrogen gas without causing emissions, fueling vital industrial processes like ammonia production and steelmaking, to name just a few.
EH’s Devens-based plant, opened in December, produces 100-megawatt electrolyzing plants, which can be shipped around the world to manufacturing facilities.
The opening of the facility drew both Gov. Maura Healey and Congresswoman Lori Trahan (D-MA), showing leaders at both the state and federal levels understand the important role the company will play not only in developing green technology, but the local economy.
Photo | Courtesy of Electric Hydrogen
Raffi Garabedian, co-founder and CEO of Electric Hydrogen
Drawn to Devens by the skilled local workforce and what Garabedian described as the gracious local community, he hopes Electric Hydrogen can be the start of the next chapter in the long book of Massachusetts business success stories.
“We’re honored to be recognized as a leader in green manufacturing. Massachusetts has a long history of industrial innovation, and we’re proud to contribute to that legacy by building our clean hydrogen technology here in Devens,” Garabedian wrote.
Eric Casey is managing editor at Worcester Business Journal, who primarily reports on the manufacturing and real estate industries.
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