A pioneering London-listed clean hydrogen fund has invested £10 million in fuel cell innovation company Bramble Energy.
It forms part of Ineos-backed HydrogenOne Capital Growth’s series B funding and entitles it to a board seat at the company.
Bramble has pioneered a printed circuit board (‘PCB’) fuel cell solution – PCBFCÔ – which manufactures low cost, scalable and recyclable fuel cell modules, and can be made at any PCB factory world-wide.
Hydrogen fuel cells are used to convert clean hydrogen into electricity and water, resulting in a power source that is free from greenhouse gas emissions.
Fuel cells have widespread applications, such as heavy duty and long distance transport and portable power, and are a critical component in the clean hydrogen sector.
Bramble intends to deploy its fuel cell technology by ramping up the global distribution of its portable power units in partnership with BOC, a Linde Group company, and by developing fuel cell stacks for light commercial vehicles.
HydrogenOne’s investment in Bramble forms part of a £35 million fundraising round, including existing investors IP Group, BGF, Parkwalk and UCL Technology Fund.
Simon Hogan, chairman of HydrogenOne said: “We are delighted to invest in Bramble, a pioneer in Hydrogen fuel cells; and we look forward to working with the management team as the business scales. This is the latest transaction in a series of investments HydrogenOne Capital has made within the sector, showing that there is real momentum in our investment strategy and we are creating a strong platform for further investments.”
Tom Mason, Bramble‘s chief executive and chief technical officer, added: “We’re entering into an exciting phase of our business. As we look to exponentially scale our offerings and impact, it is of paramount importance that we execute on key relationships. Bramble are excited to partner with HydrogenOne Capital, their industry specific focus is well complimented by their public market experience and we couldn’t think of a better partner for this phase.”
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