BRAMBLE ENERGY SECURES £35M TO FUND ITS GAME CHANGING TECHNOLOGY
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