HydroGen Power Ltd

What we do

HydroGen Power designs and builds containerised alkaline electrolyser systems in the 1 to 5 MW range for industrial hydrogen users. The company's focus is deliberately narrow: not the largest projects, which the global equipment vendors serve well, but the industrial site that consumes hydrogen on its own premises and wants to displace a delivered grey hydrogen contract. Our systems are pre-commissioned in the factory and connected on site in days rather than months, which is what makes projects of this size financeable.

Market and customers

Distilleries, glass and ceramics manufacturers, food processors and speciality chemical plants all use hydrogen or high-grade heat in processes with no straightforward electrification path. These sites face carbon pricing and customer pressure on scope 1 emissions, and most have suitable grid capacity or on-site renewables already. We sell directly and through EPC partners, and increasingly under hydrogen supply agreements where we own and operate the plant, which converts a capital sale into contracted revenue.

Traction

Seven systems are installed and operating across the UK and Ireland, with a combined 14 MW deployed and over 60,000 cumulative operating hours. Revenue for the last financial year was £4.2M. Two supply agreements signed this year carry ten-year terms and provide contracted revenue of £11M over their life. Stack degradation across the installed fleet is tracking below the modelled rate, which has allowed us to extend our performance warranty.

Team and investors

Founded from Heriot-Watt's chemical engineering department, the company now employs 47 people including a manufacturing team at its Fife assembly facility. The chief executive joined from a large industrial gases business. Previous funding comprises a £3M Series A led by a European climate fund, alongside grant support from the Scottish Government's hydrogen programme.

Current raise

An £8M Series B is being raised to expand assembly capacity to 40 MW a year, fund the balance sheet requirement of the owner-operator model, and open a service operation covering continental Europe.