NanoSUN, a world-renowned and award-winning engineering firm specializing in the development of mobile hydrogen refueling solutions, informed that HydrogenOne Capital Growth and the German Westfalen Group have invested £12 million in the company’s Series A round of funding.
Engineers and experts in the hydrogen fuel supply chain have formed NanoSUN, a company dedicated to bridging the infrastructure gap between producers and consumers of hydrogen fuel. Hybrid hydrogen refueling stations, such as NanoSUN’s Pioneer Station, can be quickly and affordably deployed to deliver hydrogen fuel to the point of use, where it can be directly dispensed into hydrogen-powered vehicles. It is NanoSUN’s business model to sell or lease Pioneer stations to hydrogen fuel supply chain owners and operators to ensure the fastest possible rollout of hydrogen cars.
With funding from Angel Investors, Innovate UK, and Horizon 2020, NanoSUN was able to develop the Pioneer station, which has the potential to accelerate the use of hydrogen in heavy-duty vehicles in particular.
A significant order book for NanoSUN’s 2022 delivery is now open after this potential has been successfully demonstrated across the UK and Europe throughout 2021. There will be a significant increase in manufacturing and establishment in key markets outside of Britain thanks in part to this funding round.
Graham Hodgson, NanoSUN’s Founder and Chairman said; “The Pioneer’s ability to facilitate the quick introduction of hydrogen vehicle fleets will enable the transport industry to get to a clean, green future fast, with just one hydrogen bus saving roughly one tonne of CO2 emissions every week. This fundraise is all about scaling NanoSUN so we can help our customers to accelerate the roll out of thousands of fleets of hydrogen buses, trucks, vans and forklifts over the coming years. Westfalen is one of our earliest customers and we take it as a huge compliment that they see such potential in NanoSUN and Pioneer, that they want to be more than just a customer. Finally, in HydrogenOne, we are delighted to have found a patient capital investor that shares our vision and values for the future of NanoSUN, with the resources to help us turn it into reality.”
Simon Hogan, Chairman of HydrogenOne said “We are pleased to announce the purchase of this stake in NanoSUN, which supports our strategy of investing in companies central to the growth of clean hydrogen production. NanoSUN’s refuelling equipment is set to be integral in the downstream hydrogen sector, and HydrogenOne believes that NanoSUN will be a leader in this field. We look forward to working with NanoSUN’s management team to make the most of its significant potential.”
Marc Weßling, Start-up Manager of the Westfalen Group, said: “NanoSUN offers the perfect answers to the important questions of the hydrogen-based mobility revolution. We are very pleased that we were able to form a strategic alliance with this partnership and we are looking forward to offering and establishing mobile hydrogen filling stations together with NanoSUN.”
A growing number of people are realizing the importance of hydrogen in combating climate change, and NanoSUN’s new investment will help the Pioneer solution cement its position as the top choice for facilitating an efficient hydrogen fueling infrastructure in the rapidly expanding green hydrogen fuel market.