Our Corporate Energy team has advised clean hydrogen-dedicated investment fund HydrogenOne Capital Growth plc ("HydrogenOne") on a joint investment in UK passenger flight innovator Cranfield Aerospace Solutions Ltd ("CAeS"), alongside Safran Corporate Ventures ("Safran").

CAeS is an aerospace market leader in the design and manufacture of new aircraft design concepts, complex modifications to existing aircraft and integration of cutting-edge technologies. The company has recently refocused on the unlocking of commercial hydrogen-electric propulsion flight and will focus on CAA certification of the Britten-Norman Islander passenger aircraft using hydrogen fuel cell power.

In parallel with its investment, Safran will work with CAeS spanning the area of hydrogen fuel cell powered electric propulsion for aviation.

Principal associate Stephen Bowman led the Gowling WLG team that advised HydrogenOne on this transaction with support from partner Paul Carberry, senior associates Charlie Bond and Stephanie Nicholls-Hinks, associates Chinedu Onuchukwu and Jasmine Coyne and trainee solicitor Ollie Carpenter.

This is the sixth investment that the Gowling WLG team has supported HydrogenOne on in the past six months, having also recently advised on its first ever private equity investment in Sunfire GmbH and investments in hydrogen companies HiiROC and NanoSUN, as well as Bramble Energy and Gen2.

Speaking about the deal, Stephen Bowman said: "We're really proud to continue supporting HydrogenOne on their pioneering investments in the hydrogen sector. The investment in CAeS will progress the decarbonisation of aviation, and is an investment which aligns with the UK's net zero ambitions and encourages the much needed technological breakthrough in what we expect to be a revolutionary decade for air travel".

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 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.