The Energy team has advised clean hydrogen-dedicated investment fund, HydrogenOne Capital Growth plc (HydrogenOne), on its participation in a €215 million Series E equity financing round by existing portfolio company Sunfire GmbH, a leading electrolyser producer.

Sunfire's substantial Series E equity financing round is complemented by a term loan of up to €100 million provided by the European Investment Bank. Sunfire also has access to approximately €200 million from previously approved grant funding projects to support its growth, making Sunfire one of the best capitalised electrolyser manufacturers in the industry.

The team which advised on the transaction, led by principal associate Siân Dewing, includes senior associates Laura Barron and Chris Kay and associate Ruairi OGrady, closely supported by local head of Corporate/M&A Dr Andreas Woelfle and legal director Florian Holfeld from Gowling WLG's Stuttgart office.

Siân Dewing commented: "We are delighted to have once again advised HydrogenOne on an important transaction that will support Sunfire in continuing to develop its green hydrogen technology. This is testament to the experience we have in the team for transactions in the clean hydrogen sector and delivering a positive outcome for all parties."

Gowling WLG's multi-disciplinary Energy team has a first-class reputation with regard to renewable and clean energy and operates seamlessly around the globe. Positioned at the forefront of the renewables sector, the team has previously advised HydrogenOne on its investment in Cranfield Aerospace Solutions Ltd, its investment in the Thierbach Project, the company's first investment commitment in a green hydrogen supply project, as well as other transactions such as its investments in green hydrogen developer HH2E.

Additionally, the wider energy transition team has been at the forefront of the renewables sector, having advised on recent transactions including Pioneer Infrastructure Partners SCSP on its acquisition of a majority stake in the share capital of PerPetum Europe N.V., project financing and agreement to sell Pacific Green's second battery energy storage system, and the additional debt for Zenobe's increased capacity 300MW battery storage site in Kilmarnock.