HPNow, a leader in on-site, autonomous, clean hydrogen-peroxide generation technology solutions, announces the closing of a €5M financing round. The round was led by sustainability-focused, globally-mandated AP Ventures, together with the VC arm of Evonik Industries (NASDAQ:EVKIF), a global leader in bulk hydrogen peroxide.
Hydrogen peroxide is one of the world’s most widely used chemicals, with applications ranging from agriculture, municipal and industrial water and wastewater treatment, to healthcare and electronics. Today’s supply chain is greenhouse-gas and toxic-waste intensive, and involves the transport and handling of hazardous high-concentrate peroxide from centralized plants to millions of end users. Using only water and electricity as inputs, HPNow totally bypasses the present-day supply chain, enabling on-site, clean and autonomous production directly at the point of use. Following utilization, the hydrogen peroxide generated by HPNow’s systems breaks down to pure water and oxygen. The process emits no greenhouse gasses or other waste.
“The push towards a more sustainable, safer and carbon-neutral future, as well as towards reduced supply-chain dependence as a result of COVID19, is driving strong demand for our autonomous and clean hydrogen peroxide generation products”, says Ziv Gottesfeld, HPNow’s CEO. “Our products have already been commercially proven in the agriculture segment. The fresh funding and ongoing support from top-tier global investors will enable us to scale-up and expand our offerings towards new and exciting market segments, with chemical-input-free industrial and municipal water treatment next in line”.
“I am delighted to announce our investment into HPNow. The company’s autonomous, safe, low impact hydrogen peroxide production technology is an exciting example of the emerging ‘Power to X’ economy, which will be a critical lever in the global efforts towards decarbonization. I am impressed with the experience and enthusiasm of the HPNow management team and I look forward to joining the board and sharing AP Ventures’ expertise, experience and network to create further value for the Company”, says Kevin Eggers, Partner, AP Ventures.
« This patented technology offers the possibility of a demand-oriented and cost-efficient supply of hydrogen peroxide directly to the customer, » said Michael Traexler, head of the Active Oxygens business line at Evonik. « This investment supports our strategy of offering our customers customized system solutions. In addition, the technology makes it possible to use H2O2 in areas where less environmentally friendly techniques have been used in the past. »
About HPNow:
HPNow addresses growing global challenges in clean water and sanitation through its range of on-site, autonomous, safe and sustainable hydrogen peroxide generation solutions. Headquartered in Copenhagen, and with representation across Europe, Americas, Africa and Asia, we address our client’s water treatment needs in market segments ranging from agriculture and aquaculture, to industrial and drinking water treatment. HPNow is a technology and market leader in on-site generation of hydrogen peroxide, and is continuously striving to further advance its technology and products in order to meet growing market needs and rising global demand.
More info: www.hpnow.eu
About AP Ventures:
AP Ventures is headquartered in London and manages venture capital funds with a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration, resource scarcity and rapidly changing demographics.
The existing portfolio is focused on the hydrogen value chain and includes investments in Altergy Systems, ERGOSUP, Greyrock Energy, HyET, Hydrogenious Technologies, Plug Power and ZEG Power. All these companies either utilise or enable the use of Platinum Group Metals (PGMs).
AP Ventures is led by Andrew Hinkly (Managing Partner) and Kevin Eggers (Partner). Investors include Anglo-American Platinum, the Mirai Creation Fund, Mitsubishi Corporation, Plastic Omnium, the Public Investment Corporation and Sumitomo Corporation.
More info: www.apventures.com
About Evonik Venture Capital:
With a fund size of €250 million, Evonik Venture Capital (EVC) has made more than 30 investments since 2012, both direct and fund investments. EVC has offices in Germany, the U.S.A. and China and invests in innovative technologies and disruptive business models in the fields of Nutrition & Care, Specialty Additives and Smart Materials, as well as enabling digital technologies. The EVC team of experienced investment managers provide portfolio companies comprehensive support. The investment scope ranges from early stage to growth stage with investment volume per portfolio company of up to €15 million.
More info: http://venturing.evonik.com
About Evonik:
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 32,000 employees work together for a common purpose: We want to improve life, today and tomorrow.
More info: www.evonik.com
