UK-based fuel cell technology company Bramble Energy has secured £35mn ($47.3mn) in a second round of funding led by London-listed hydrogen pure-play investment fund HydrogenOne Capital Growth.

HydrogenOne has invested £10mn, giving it a minority equity stake and a seat on Bramble’s board. The other new investors are intellectual property investor IP Group, investment company BGF, fund manager Parkwalk Advisors and university-linked investor UCL Technology Fund.

Bramble has patented a printed circuit board (PCB) fuel cell solution which manufactures recyclable fuel cell modules and can be made at any PCB factory world-wide. It plans to deploy this technology by ramping up the global distribution of its portable power units in partnership with industrial gases company BOC and by developing fuel-cell stacks for light commercial vehicles. Bramble is also developing modular electrolyser technology.

“The recent Series B funding round allows us to continue solving some of the greatest barriers to the adoption of fuel cells” Mason, Bramble

“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,” says Bramble CEO and cofounder Tom Mason.

“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, scaleup potential and low-cost production,” he adds.

Following a previous funding round in summer 2020, Bramble has grown from a team of three to 35 people. It plans to expand the team to over 100 following this second round of funding.

HydrogenOne, which last year became the UK’s first listed pure-play hydrogen investment company, is investing in projects across the hydrogen supply chain.

“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,” says Simon Hogan, chairman of HydrogenOne.

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Author: Stuart Penson, Editor