Hydrogen fuel cell start-up Bramble Energy has raised £5m, just weeks after the EU said such technology would be key to the world’s decarbonisation. Bramble has secured the latest tranche of funding from investors including BGF, IP Group, Parkwalk Advisors and the UCL Tech Fund. It said the cash would be used to accelerate deployment of its hydrogen fuel cells, which, unlike other models, can be made using existing global manufacturing resources and so require significantly less time and investment. Hydrogen fuel cells use hydrogen gas to develop electricity rather than fossil fuels. Among other things, they can be used to help cars run without producing greenhouse gas emissions. They are seen as a key technology in cutting greenhouse gas emissions to zero and the European Union last month said hydrogen would be vital in its plans to shift towards greener energy sources. It said it was pushing for hydrogen to be used specifically in sectors which struggled to decarbonise, and forecast that investments in renewable hydrogen in the bloc could hit bet ween €180bn (£162bn) and €470bn by 2050. The UK, meanwhile, last year signed into law a pledge to reach net-zero emissions by 2050. This would require emissions from transport, industry and households to be completely stopped or offset by other measures such as tree planting. This week, the National Grid said Britain would need hydrogen to meet its goal, although warned “immediate action across all key technologies and policy areas” was needed. Tom Mason, co-founder and chief executive of Bramble, said it was a “hugely exciting time for Bramble Energy, with many eyes focused on the UK’s leadership role in the transition to a greener economy”.
Telegraph 3rd Aug 2020 read more »