Penningtons Manches Cooper’s corporate team has advised London-based hydrogen fuel cell company Bramble Energy on its £5 million Series A funding round. The round was led by BGF with additional investment from existing investors IP Group, Parkwalk Advisors, and UCL Technology Fund.
Bramble Energy was founded in 2016 as a spinout from University College London (UCL) and Imperial College London by Professor Dan Brett, Professor Anthony Kucernak and CEO Dr Tom Mason. It has developed the only technology capable of producing gigawatts of hydrogen fuel cells using existing global manufacturing resources, dramatically reducing the time to market and investment needed versus existing fuel cell designs. By creating a patent protected fuel cell that can be manufactured in almost all printed circuit board (PCB) factories worldwide, it has solved the key challenges of lead times, up-front investment, manufacturing cost and scalability in the production of hydrogen fuel cells.
Corporate partner James Went led the legal team advising Bramble Energy with support from tax partner Kathy Hills and corporate senior associate Nicola Sole. The high profile investment has received significant media coverage and recently featured in The Telegraph.
James commented: “We were delighted to act for Bramble Energy on this important step in its development. It’s an exciting business which is set to make a big contribution to the greener economy.”
Penningtons Manches Cooper’s venture capital team has seen continuing high levels of deal activity as it supports innovative businesses offering world-changing ideas across a range of technologies and sectors.