Pioneering energy start-up Clyde Hydrogen secures over £1m in pre-seed funding
Published: 11 April 2024
The University spinout company said the investment marked a significant vote of confidence in its mission to develop cutting-edge hydrogen production solutions
A University of Glasgow start-up that is set to revolutionise the hydrogen energy sector has announced the successful closure of its pre-seed funding round totalling more than £1m in equity and grants.
Clyde Hydrogen said the investment marked a significant vote of confidence in its mission to develop cutting-edge hydrogen production solutions that promise to significantly reduce carbon emissions and advance the global transition to a sustainable energy future.
The milestone achievement was supported by Zinc, the University of Glasgow and several strategic angel investors.
Collaboration
The company’s collaboration with the University of Glasgow provides Clyde Hydrogen access to world-class research facilities and expertise in renewable energy technologies, while Zinc’s involvement brings strategic investment acumen and an established network of industry connections.
Clyde Hydrogen’s breakthrough decoupled electrolyser technology delivers high pressure green hydrogen safely at scale and at low cost. This has the potential to match renewable energy with hydrogen production in a more productive way than currently possible – solving one of the industry’s biggest challenges to date.
“This funding is not just a financial boost but a validation of our vision to make green hydrogen accessible and cost effective,” said Dr Jos Trehern, Chairman of Clyde Hydrogen.
“With the support of Zinc, the University of Glasgow and angel investors, we are poised to accelerate our research and development efforts and bring our innovative solutions to market.
Paul Kirby, co-founder and CEO at Zinc stated "At Zinc, we believe in the importance of investing in deep science innovation to solve our most pressing environmental issues.
“Clyde Hydrogen represents exactly the kind of disruptive technology we look to support — one that has the potential to revolutionise the energy landscape and reduce reliance on fossil fuels. We're excited to be part of the team at Clyde Hydrogen on its journey to impact."
Mel Anderson, Head of IP and Commercialisation at the University of Glasgow, said: "The University of Glasgow is proud to support Clyde Hydrogen in their innovative endeavours to transform the hydrogen energy landscape. This partnership aligns with our commitment to advancing sustainable and renewable energy adoption.
Ground-breaking
“We believe that Clyde Hydrogen's ground-breaking approach to hydrogen production will play a crucial role in achieving a carbon-neutral future."
The pre-seed funding will be instrumental in expanding the company’s R&D team, accelerating technology development, and forging strategic partnerships within the energy sector. Clyde Hydrogen is committed to contributing significantly to Scotland’s ambitious carbon neutrality and green hydrogen goals.
Clyde Hydrogen Systems is a spinout from the University of Glasgow building better green hydrogen production systems. Their breakthrough decoupled electrolyser technology delivers high pressure green hydrogen safely at scale and at low cost.
Zinc is an early stage mission-driven investor, backing founders creating innovative solutions and building ambitious businesses that tackle the most pressing and complex challenges facing the health of people and the planet.
The University is committed to tackling the most pressing global challenges facing humanity and the natural world and is delivering against the United Nation’s 17 Sustainable Development Goals (SDGs).
The University's Innovation Strategy currently sets out how it is working to grow economies, tackle inequalities and improve the health and wellbeing of citizens to create sustainable futures for communities locally and globally.
First published: 11 April 2024
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