Hydrogen fuel cell stack maker secures £35m investment
Bramble Energy has closed a £35million investment round to drive forward its development of hydrogen fuel cell stacks.
The Crawley-based firm can create bespoke fuel cell stacks, which provide portable energy, from design concepts to physical units within days, saving up to a year in development time compared to other manufacturers.
The latest investment round was led by HydrogenOne Capital Growth plc and is supported by the existing institutional investors (BGF, IP Group, Parkwalk Advisors and the UCL Technology Fund).
The funding will allow Bramble Energy to roll out its portable power products globally as well as continue to develop its liquid cooled fuel cell stack capability.
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CEO and co-founder of Bramble Energy, Dr Tom Mason, said: “There is no bigger challenge that humanity faces than the climate crisis and our team’s core purpose is to help the world achieve net zero. Hydrogen fuel cells have long been viewed as a ‘future’ solution however deployment of this clean energy technology has been hindered by complex manufacturing and the high costs associated with this.
“This is a hugely exciting time for Bramble Energy, with many eyes focused on the UK’s leadership role in the transition to a greener economy. The recent Series B funding round allows us to continue solving some of the greatest barriers to the adoption of fuel cells – through our ground-breaking manufacturing route, scale-up potential and low-cost production.”
Following the previous funding round in summer 2020, Bramble Energy has rapidly grown from a team of 3 to 35 and plans to grow to over 100 employees.
Chairman Simon Hogan of HydrogenOne Capital, said: “We are delighted to invest in Bramble Energy - a pioneer in hydrogen fuel cells - and are looking 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 that we are creating a strong platform for further investments.”
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