UK green Hydrogen Firm Raises €46.6 Million in Funds

UK green hydrogen company Protium has secured €46.6 million investment in its latest funding round led by SWEN Capital Partners.

UK green hydrogen company Protium has secured €46.6 million investment in its latest funding round led by SWEN Capital Partners. Additional investment comes from Barclays’ Sustainable Impact Capital program and existing Protium investors. This is the largest funding secured for a pure play green hydrogen energy company in the UK to date.

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 is one of fewer than ten global green hydrogen energy companies who have secured institutional funding over €23 million. 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 >250 MW of green hydrogen projects, including its flagship project in Magor South Wales with Budweiser and its 40 MW 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.

The funding demonstrates confidence in the green energy sector, showing UK and EU institutional capital is being drawn into financing companies that are moving consumers towards domestically produced and consumed green fuels.

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