Barclays has made an equity investment in Protium, the UK’s leading green hydrogen energy company. I25 Jun 2022 12:12
Barclays has made an equity investment in Protium, the UK’s leading green hydrogen energy company. It is the 11th investment under the bank’s £175m Sustainable Impact Capital programme.
Protium is a green hydrogen energy company that provides end-to-end net zero energy solutions for specific end customers with net zero ambitions. It does this by designing, developing, financing, owning, and operating green hydrogen and renewable energy infrastructure assets. By packaging multiple infrastructure assets together, Protium can support its clients to decarbonise their heat, power, and transportation requirements through a commercial structure called a HESCOTM.
Protium has also secured £40.5 million investment in its latest funding round led by SWEN Capital Partners, through its SWIFT 2 fund. The funding round is the largest funding secured for a pure play green hydrogen energy company in the UK to date.
Protium is one of fewer than ten global green hydrogen energy companies who have secured institutional funding over £20mn. The company is now the best-resourced green hydrogen energy company in the UK, and uniquely poised to play a critical role in building the decentralised infrastructure critical to decarbonise the UK economy and meet the goal of achieving Net Zero by 2050.
This funding will allow Protium to accelerate its growing portfolio of >250MW of green hydrogen projects, including its flagship project in Magor South Wales with Budweiser and its 40MW green hydrogen project in Teesside, through planning, engineering and permitting. Protium intends to significantly scale-up its teams regionally throughout the UK and also across Europe.
This round will also support the development of Protium’s in-house digital capabilities including its digital twin and energy system optimisation expertise, as well as enhancing its project and operational efficiency systems.
Lead investor SWEN is the market leader in supporting green gas projects and developers. Its SWIFT 2 fund (SWEN Impact Fund for Transition 2) is an infrastructure fund dedicated to renewable gas and circular economy initiatives.
New Board and Advisory Board appointments
Additionally, Protium has made two new board appointments as part of the raise:
- Olivier Aubert, Managing Director at SWEN Capital Partners – Olivier has over 24 years’ experience in the energy sector, having worked at companies including EDF, Gaz de France, ENGIE and GRTgaz.
- Steven Poulter, Head of Principal Structuring and Investments at Barclays– Steven leads the division of Barclays that makes strategic equity investments and helps entrepreneurial companies grow.
Ahead of the funding round, Protium also appointed Claire Perry O’Neill to its advisory board. Claire was the UK Government Minister responsible for Energy and Clean Growth until 2020. Claire’s parliamentary achievements including writing and implementing the UK’s Clean Growth and Green Finance Strategies and de
Sign In
Follow the stocks
