Climate Insider Brief:
- Suiso, a Rotherham-based startup founded in 2021, has secured £3m in funding to develop industrial-scale hydrogen generators.
- These generators, the size of shipping containers, aim to provide green power on-site for various sectors including hospitals, factories, warehouses, and hydrogen vehicle filling stations.
- The funding, provided by the Northern Powerhouse Investment Fund (NPIF) managed by Mercia Ventures, reflects confidence in Suiso’s technology.
PRESS RELEASE – March 11, 2024 – Suiso, a Rotherham-based company developing industrial-scale, green hydrogen generators, has raised £3m.
Founded in 2021, Suiso aims to supply hydrogen generators the size of shipping containers to provide greener power for hospitals, factories, warehouses and filling stations for hydrogen vehicles.
“Hydrogen is rapidly emerging as a sustainable way to decarbonise the economy, but cost, availability and other practical issues have held back its use,” said Stuart McKnight, CEO of Suiso
“Our technology offers a way to overcome these and provide clean, low-cost power on-site.”
The startup’s technology is designed to be fitted directly on-site to eliminate the costs of distribution. The company described this process as a key barrier to the adoption of hydrogen energy.
Hydrogen technology is still very much in its infancy but it holds high promise to provide a renewable and readily available source of energy. Combining hydrogen with oxygen atoms can produce electricity, with the only excess products being water and heat.
“For some organisations, Suiso’s on-site hydrogen generation may be the only realistic ‘green’ option – for example, energy-intensive industrial applications such as large boilers or furnaces, heavy lifting gear or HGV and truck refuelling,” McKnight added.
The funding came from the Northern Powerhouse Investment Fund (NPIF), managed by Mercia Ventures.
“Suiso has found a way to decarbonise natural and biogas to produce ‘greener’ hydrogen than many current methods of production including grid-powered electrolysis, and a zero-emission form of carbon black which is a valuable product in itself,” said Mercia Ventures investment director Ashwin Kumaraswamy.
“This technology could make hydrogen a viable option for many businesses and drive rapid uptake. With growing global demand for clean energy, we are confident that Suiso will have many opportunities ahead.”
The current investment phase of the NPIF was completed in December 2023, having facilitated more than £1bn in investment or co-investment into Northern growth companies since 2017. British Business Bank will launch the next phase this month.
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SOURCE: UK Tech News
Featured Image: Credit: Suiso
