Our Corporate Energy team has advised clean hydrogen-dedicated investment fund HydrogenOne Capital Growth plc ("HydrogenOne") on its fourth investment in the past year - a £10 million investment in Bramble Energy Limited ("Bramble").
Bramble is an innovative UK-based hydrogen fuel cell company that has developed a unique PCB fuel cell (PCBFC™) that can be manufactured in almost all PCB factories, leveraging existing manufacturing routes to offer a cost-effective and scalable product that can be distributed worldwide. 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 the company forms part of a c. £35 million fundraising round, including existing Bramble investors IP Group, BGF, Parkwalk and UCL Technology Fund.
Principal associate Siân Dewing led the Gowling WLG team to advise HydrogenOne on this latest investment, working with corporate energy partner and co-leader of the firm's Hydrogen Group, Gareth Baker, and associate Hannah Gough, supported by Zoe Fatchen (Tax), Chinedu Onuchukwu (Corporate), Catherine Haworth (IP), Elizabeth Napier (Real Estate) and Kiran Gosal (Employment).
This is the fourth investment that the Gowling WLG team has supported HydrogenOne on in the past year, having also recently advised the company on its first ever private equity investment in Sunfire GmbH and investments in hydrogen companies HiiROC and NanoSUN.
Speaking about the deal, Siân Dewing said: "It's been an exciting start to 2022 for HydrogenOne with this latest investment in Bramble, which is a pioneer in hydrogen fuel cells. We're delighted to have supported the client on this deal, which truly demonstrates the growth and development of both the business and the hydrogen and clean energy sectors."
"There is real momentum in HydrogenOne's investment strategy and we're looking forward to working with the team on future projects they have in the pipeline."
Gowling WLG's multi-disciplinary Energy team has a market-leading reputation and operates seamlessly around the globe. The deal is another example of the team's position in the energy sector and follows a series of recent mandates, including advising Berenberg on its £210 million Harmony Energy Income Trust IPO, Brockwell Energy on its sale of an onshore wind farm development to global renewable energy developer, service provider and distributor BayWa and Eelpower on its £100 million joint venture with NextEnergy Solar Power.