London-based fuel cell company Bramble Energy has closed a £35million investment round to help further expand its game changing capabilities in solving key challenges in the production and implementation of hydrogen fuel cell stacks.
Current hydrogen fuel cell technologies are limited because of cost, inflexibility, manufacturing complexity and scaling issues. Bramble Energy changes the game with its revolutionary technology and by leveraging an existing global manufacturing base. Utilising the printed circuit board (PCB) industry, Bramble Energy can turn around bespoke fuel cell stacks from design concepts to physical units within days, saving up to a year in development time compared to other manufacturers.
This investment has been led by HydrogenOne Capital Growth plc and is supported by the existing institutional investors (BGF, IP Group, Parkwalk Advisors and the UCL Technology Fund) and 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. Through this phase Bramble Energy will deploy its disruptive fuel cell stack technology in a variety of strategic commercial applications to enable decarbonisation across a number of industries and sectors. In doing so, Bramble Energy will move another step closer to becoming the go-to name in scalable fuel cell technology and at the same time become a leading UK-based net zero success story.
Following the previous funding round in summer 2020, Bramble Energy has rapidly grown from a team of 3 to 35 and is fast becoming a leading hydrogen fuel cell provider, helping to deliver a cleaner and more sustainable world. The additional funding will also help Bramble Energy grow its UK-based team to over 100 employees and provide a springboard for the deployment of zero emission projects with commercial partners and to ultimately achieve its goal of becoming the largest fuel cell supplier in the world.
CEO and Co-Founder of Bramble Energy, Dr Tom Mason, comments: “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.”
In 2020, the UK government released it’s 10 point plan for a green industrial revolution with hydrogen cited a number of times as a pillar of building back better to decarbonise. The availability of hydrogen as a fuel, with the environmental advantage of a zero-emission system, gives fuel cells the potential to be an outstanding renewable energy solution. Fuel cells can be scaled to demand and have applications ranging from stationary, primary power sources providing stable and high-power density off-grid electricity, to portable applications such as drivetrain integration for automotive power and even as small as mobile phone power.
Chairman Simon Hogan of HydrogenOne Capital, adds: “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.”
For decades, the energy sector has functioned in one way and one way only – by the use of fossil fuels. But the damage caused is taking its toll on our planet. Realisation is spreading that society can no longer continue as it has. Globally, there is a growing consciousness that more sustainable solutions must be found to aid the energy transition. The net zero goal of 2050 is fast approaching, and embracing innovation is the only way to make the ambition the new normal. The energy sector has a big role to play in educating the masses on how energy works, the processes involved to make energy happen and where the fuel used to power items comes from.
“Bramble Energy’s goals are ambitious, and we are aiming high with our purpose. I believe the potential for our technology is limitless and with that in mind we aim to decarbonise as many sectors as possible on a global scale. As net zero goals near, there are only going to be more and more opportunities that present themselves for our technology to develop and work to aid the clean energy transition. The target is for Bramble to become the go-to name in affordable, scalable fuel cell solutions,” concludes Mason.
Bramble Energy is a disruptor in the clean tech space with its revolutionary technology. It has developed a unique, patent protected, printed circuit board (PCB) fuel cell – the PCBFC™. The PCBFC™ utilises existing and cost-effective production methods and materials from the well-established PCB industry, reducing cost and complexity in manufacturing hydrogen fuel cells.
For more information about Bramble Energy, visit www.brambleenergy.com
Notes to editors
About Bramble Energy
Bramble Energy is powering a net zero world – today – and is proving to be a real game changer in solving key challenges in the production of hydrogen fuel cells including: lead times, up-front investment, manufacturing cost and scalability.
Founded in 2016 by Dr. Tom Mason, in the research labs at Imperial College of London and University College of London, Bramble Energy through revolutionary fuel cell design and manufacturing techniques, has developed the unique printed circuit board (PCB) fuel cell – the PCBFC™. A patent protected fuel cell that can be manufactured in almost all printed circuit board (PCB) factories worldwide.
Home for Bramble Energy is a state-of-the-art facility in Gatwick, UK, where it has launched its portable power product range and is developing its high-power density, liquid-cooled fuel cell systems under the same scalable low-cost technology platform.
For more information about Bramble Energy visit: https://www.brambleenergy.com/
About HydrogenOne Capital
HydrogenOne was launched in 2021 with an investment objective to deliver an attractive level of capital growth by investing in a diversified portfolio of hydrogen and complementary hydrogen focussed assets. INEOS Energy is a strategic investor in HydrogenOne. The Company is listed on the London Stock Exchange’s main market (ticker code: HGEN).
BGF was set up in 2011 and has invested over £3bn in more than 460 companies, making it the most active growth capital investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2020, Australia did the same, both based on BGF’s approach and funding model. See: www.bgf.co.uk.
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
About Parkwalk Advisors
Parkwalk is the largest growth EIS fund manager, backing world-changing technologies emerging from the UK’s leading universities and research institutions. With £360m of assets under management, it has invested in over 150 companies across its Parkwalk Opportunities and Knowledge Intensive EIS Funds, as well as the award-winning enterprise and innovation funds Parkwalk manages for the Universities of Cambridge, Oxford, Bristol and Imperial College.
Parkwalk invests in businesses creating solutions to real-world challenges, with IP-protected innovations, across a range of sectors including life sciences, AI, quantum computing, advanced materials, genomics, cleantech, future of mobility, medtech and big data.
About UCL Technology Fund
The UCL Technology Fund is dedicated to investing in intellectual property and commercialisation opportunities arising from UCL’s world-class research base, focusing in particular on the physical and life sciences. The fund supports UCL academics in achieving the full potential of innovations that have prospects for outstanding societal and market impact, right through the development journey from initial proof of concept to practical commercial application. The Fund is managed by AlbionVC, one of the largest independent venture capital investors in the UK, in collaboration with UCL Business.
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