£10 million investment in Bramble Energy

RNS Number : 5057B

HydrogenOne Capital Growth PLC

14 February 2022

 

THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OR SUBSCRIPTION OR SOLICITATION TO PURCHASE SHARES IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

14th February 2022

HydrogenOne Capital Growth plc
£10 million investment in fuel cell innovation company Bramble Energy

HydrogenOne Capital Growth plc ("HydrogenOne" or the "Company"), is pleased to announce that it has signed definitive agreements for an investment of £10m in Bramble Energy Limited ("Bramble") as part of their Series B funding round.

With this purchase of a minority equity stake, HydrogenOne has the right to a board seat at Bramble.

Bramble has pioneered a printed circuit board ('PCB') fuel cell solution - PCBFC Ô , which manufactures low cost, scalable and recyclable fuel cell modules, and can be made at any PCB factory world-wide.

Hydrogen fuel cells are used to convert clean hydrogen into electricity and water, resulting in a power source that is free from greenhouse gas emissions. Fuel cells have widespread applications such as heavy duty and long distance transport and portable power and are a critical component in the clean hydrogen sector.

Bramble intends to deploy its fuel cell technology by ramping up the global distribution of its portable power units in partnership with BOC (a Linde Group company), and further by developing fuel cell stacks for light commercial vehicles.

HydrogenOne's investment in Bramble forms part of a c. £35 million fundraising round, including existing Bramble investors IP Group, BGF, Parkwalk and UCL Technology Fund.

Simon Hogan, Chairman of HydrogenOne said "We are delighted to invest in Bramble, a pioneer in Hydrogen fuel cells; and we look 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 we are creating a strong platform for further investments."

Dr Tom Mason, Bramble's CEO & CTO commented "We're entering into an exciting phase of our business. As we look to exponentially scale our offerings and impact, it is of paramount importance that we execute on key relationships. Bramble are excited to partner with HydrogenOne Capital, their industry specific focus is well complimented by their public market experience and we couldn't think of a better partner for this phase"

The Company's LEI is 213800PMTT98U879SF45.

For further information, please visit www.hydrogenonecapitalgrowthplc.com or contact:

HydrogenOne Capital LLP - Investment Adviser	[phone]
JJ Traynor/Richard Hulf
Panmure Gordon - Corporate Broker and Financial Adviser
Tom Scrivens Alex Collins	[phone]
FTI Consulting - Media Enquiries Matthew O'Keeffe Cally Billimore	[phone] [phone] [e-mail]

About HydrogenOne

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).

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.

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 Crawley, UK, where they have launched their portable power product range and are developing their high-power density, liquid-cooled fuel cell systems under the same scalable low-cost technology platform.

After raising significant capital in 2020, Bramble Energy is fast becoming the leading hydrogen fuel cell provider for a cleaner and more sustainable world.

For more information about Bramble Energy visit: https://www.brambleenergy.com/  

Bramble Energy media contact:

Amanda Bunn, PR Account Director

[e-mail] / 07595 768 277

IMPORTANT NOTICE

This announcement does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, shares in the Company in any jurisdiction. The distribution of this announcement outside the UK may be restricted by law. No action has been taken by the Company that would permit possession of this announcement in any jurisdiction outside the UK where action for that purpose is required. Persons outside the UK who come into possession of this announcement should inform themselves about the distribution of this announcement in their particular jurisdiction.

This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and/or the plans of one or more of its investee companies and their respective current goals and expectations relating to their respective future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward- looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements.

 

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