Company announces it has finalised £5m funding round in support of its hydrogen fuel cell plans
The manufacturer of a key decarbonisation technology has received a major funding boost, with hydrogen fuel cell firm Bramble Energy announcing yesterday that is has raised £5m to accelerate deployment of innovative fuel cell production technology.
The investment was led by BGF and joined by existing investors including IP Group, Parkwalk Advisors, and UCL Technology Fund.
Bramble Energy has developed what it claims is the only technology in the world capable of producing gigawatts of hydrogen fuel cells using existing global manufacturing resources. It predicts the technology will reduce manufacturing costs and accelerate time to market, thereby cutting the level of investment necessary to build out manufacturing capacity compared to existing fuel cell designs.
The fuel cells can be manufactured in almost all printed circuit board (PCB) factories worldwide, the firm claims, enabling fast-tracked scalability for their production.
"Bramble has created a world-first in the production of hydrogen fuel cells, with the potential to transform a global and growing market," said George Mills at BGF.
"Critically, Bramble has inherent scale-up potential with fuel cells that can be made in PCB factories around the world. As the UK advances towards its greener future, the cleantech industry is one of increasing interest to BGF, with our capital and financial firepower designed to help accelerate growth and provide long-term partnerships."
Bramble Energy was founded in 2016 as a spinout from UCL and Imperial College London by Professor Dan Brett, Professor Anthony Kucernak and CEO Dr. Tom Mason.
The new funding will support the launch of the firm's portable power product range, starting with a low cost, flexible 20W unit, which should be followed by 60W and 100W versions, all of which provide zero-emissions replacements for diesel generator technologies.
"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," said Tom Mason.
"We are 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. BGF understands our mission, culture and technical capabilities. We are pleased to have them on board, backing our growth and expansion at a critical juncture for the business."
Hydrogen fuel cells generate electric power from an electrochemical reaction rather than combustion, eliminating carbon emissions from the power unit and producing only water and heat as by-products.
Hydrogen is set to play a significant role in global efforts to reach net-zero emissions, with the European Union adopting an ambitious Hydrogen Strategy in July, outlining ambitions to increase the bloc's renewable hydrogen capacity from 1GW today to 6GW by 2024 and 40GW by 2030.
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