Infinity Fuel Cell & Hydrogen

About the offering

Infinity Fuel Cell and Hydrogen, Inc. is a hydrogen energy technology company founded in 2002 that develops fuel cells, electrolyzers, and regenerative fuel-cell (RFC) systems for space, underwater, and terrestrial applications. The company has secured more than $60 million in contracts and licensing agreements over its 24-year history with customers including NASA, the U.S. Navy, the U.S. Air Force, the FAA, Blue Origin, and commercial underwater and space companies. Core Technology: Infinity's product line centers on three interconnected systems. Fuel cells combine hydrogen and oxygen to produce electricity and water, providing continuous power where batteries are insufficient. Electrolyzers reverse the process, splitting water into hydrogen and oxygen for storage. Combined into regenerative fuel cells (RFCs), these systems can store and release energy in closed-loop cycles, making them suitable for environments where resupply is difficult or impossible. Space Market: Infinity has completed more than 2,600 hours of NASA life testing on lunar fuel-cell stacks and has an active NASA Glenn contract for RFC stacks. Its technology has flown on two Blue Origin New Shepard launches. The company is working with two commercial lunar-lander companies on fuel-cell and electrolyzer applications. NASA has calculated that a solar/hydrogen RFC system could save up to $700 million per lunar mission compared to batteries. Underwater Market: Infinity's Mystic 2000™ system powered a Cellula Robotics Envoy autonomous underwater vehicle (AUV) on a 2,023 km mission while submerged for 385 continuous hours. Extended-range hydrogen power could reduce the need for military support assets and save commercial operators an estimated $100,000 per day by eliminating chase vessels. Financial Highlights: The company reports an average of 20% gross profit and approximately $5.0 million in annual revenue over the past four years, with more than $5 million in purchase orders received in Q1 2026. Revenue is described as cyclical, tied to the pace of government and commercial program awards. Market Opportunity: Infinity targets three primary markets — the military autonomous underwater vehicle (AUV) segment projected at $10.17 billion by 2030 (10.2% CAGR), the lunar economy projected at $170 billion by 2040 (PwC estimate), and the terrestrial microgrid market projected at $406 billion by 2033. Team and Advisors: The leadership team includes President and CEO William F. Smith, CFO Bill Davis, Manager of Engineering John Fayer, and other engineering and legal professionals. The company notes that past and current team members have been involved in every space flight fuel cell program since Project Gemini in the 1960s. Actor William Shatner — a passenger on a Blue Origin New Shepard flight in 2021 — serves as Brand Ambassador and Advisory Committee Member and has received compensation and/or holds a financial interest in the company. Partners include Schlumberger, NASA, and the U.S. Air Force. The offering is conducted via Regulation CF through DealMaker Securities LLC. The pre-money implied valuation is $65,588,548, calculated by multiplying total shares outstanding by the offering share price of $9.72, with a minimum investment of approximately $1,030.32.

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