HydrogenOne invests in NanoSUN
Published by Bella Weetch,
Editorial Assistant
Global Hydrogen Review,
HydrogenOne Capital Growth plc (HydrogenOne) has announced that it has signed definitive agreements for a private equity investment of £9.05 million in NanoSUN Ltd (NanoSUN) – a supplier of mobile hydrogen storage and refuelling systems to hydrogen consumers.
HydrogenOne’s investment in NanoSUN forms part of a £12 million fundraising round, introducing other new investors including strategic investor Westfalen Group, of Germany. With this minority equity stake, HydrogenOne has the right to a board seat at NanoSUN.
NanoSUN’s mobile Pioneer Hydrogen Refuelling Stations provide a flexible and low-cost connection between hydrogen customers such as truck stops, and concentrated hydrogen supply sources. The Pioneer units are filled with hydrogen at source, and transported to customer sites, where they provide storage and refuelling facilities, all in a single, refillable system. The resultant offering to customers is more flexible and lowers structural costs by some 60% more than traditional systems, by combining distribution and dispensing equipment into a single unit.
The company has identified substantial demand for the Pioneer product, and intends to use the proceeds of this funding to increase its manufacturing capacity and, at the same time, continue to develop larger units.
Read the article online at: https://www.globalhydrogenreview.com/product-news/07122021/hydrogenone-invests-in-nanosun/
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