HydrogenOne Capital Growth buys £9m stake in NanoSUN
Summary
The result is more flexible and lowers structural costs by some 60% than traditional systems, by combining distribution and dispensing equipment into a single unit.NanoSUN has identified substantial demand for the Pioneer product, and intends to use the proceeds of this fund raise to increase its manufacturing capacity and, at the same time, continue to develop larger units.Simon Hogan, chairman of HydrogenOne, said the stake purchase supports its strategy of investing in companies central to the growth of clean hydrogen production. We look forward to working with NanoSUNs management team to make the most of its significant potential.Graham Hodgson, NanoSUNs Founder and Chairman said the Pioneers 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. "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. BayoTech recently announced an agreement with New Mexico Gas Company to deploy a new highly-efficient hydrogen production facility in Albuquerque. SpectrumH2 has implemented an MoU with an intermediate natural gas producer to collaborate on the development of a hydrogen production plant in southern Alberta.