Climate Insider Brief:

• Delft-based Zepp.solutions, a hydrogen fuel cell technology company founded in 2017, secured its first external funding of €3M from the Rotterdam Energy Transition Fund. 
• This marks a significant achievement for Zepp, which had previously grown into a “multi-million-dollar” company without external investments.
• The investment from the Rotterdam Energy Transition Fund, managed by InnovationQuarter, aligns with Zepp’s mission to reduce CO2 emissions. 

PRESS RELEASE – May 07, 2024 – Delft-based Zepp.solutions, a company specialising in hydrogen fuel cell technology, announced that it has raised its first funding of €3M since its inception in 2017. It claims to have become a “multi-million-dollar” company without external funding until now. 

The latest investment came from the Rotterdam Energy Transition Fund, a €100M investment fund by the City of Rotterdam.

The ‘Energietransitiefonds Rotterdam’ supports innovative companies and sustainable projects to help in Rotterdam’s energy transition and circular economy goals, aiming to cut CO2 emissions, enhance air quality, and minimise raw material usage.

InnovationQuarter acts as the fund manager for the Rotterdam Energy Transition Fund.

Erik van der Zant, Head of Investments at InnovationQuarter and interim fund manager of the Energy Transition Fund, says, “Zepp’s ambition is a great match with the mission of the Energy Transition Fund, which is to reduce CO2 impact in the Rotterdam area by supporting promising climate tech companies. InnovationQuarter looks forward to working together with Zepp on their growth.”

This fundraising is the outcome of a close collaboration between Zepp and InnovationQuarter. Previously, InnovationQuarter helped Zepp in creating the world’s inaugural hydrogen-powered water taxi in Rotterdam.

Capital utilisation

The funds will help Zepp grow its operational capabilities. With plans to convert its pipeline of potential clients and enhance its products, the company aims to meet the growing demand in the European hydrogen sector. 

Further financing rounds may be considered for Zepp’s ongoing development.

Jonas Brendelberger, co-founder of Zepp.solutions, says, “Receiving this first investment is a major milestone for our team. It’s a strong signal of trust in what we are building here and a perfect fit, bringing on board partners who will further strengthen our roots in the Rotterdam and Delft tech sector.”

Alderman Chantal Zeegers of Rotterdam adds, “The Rotterdam area is responsible for a fifth of all CO2 emissions in the Netherlands. We need to get these emissions down to zero by 2050.”

“Tech-intensive companies like Zepp.solutions are a big part of the solution and help build a viable hydrogen ecosystem. Rotterdam is happy to participate through our Energy Transition Fund.”

Enabling zero emissions

Founded in 2017 by Jonas Brendelberger, Jan Bot, Kevin Schreiber, Joost Kortleve and Remco Duba, Zepp.solutions is a supplier of hydrogen fuel cell systems in Europe. It originated as a spinoff from TU Delft’s hydrogen racing team ‘Forze’.

Zepp’s polymer electrolyte membrane (PEM) fuel cell systems encompass all necessary components, systems, and software controls to efficiently and reliably convert hydrogen gas into electricity.

Tailored for medium- to heavy-duty uses, such as trucks, machinery, and ships, these systems help manufacturers transition to zero-emission technology.

Zepp’s technology has been recently implemented in various applications. Examples include the Ab Initio inland barge by Concordia DAMEN and several Liebherr excavators. 

The company’s upcoming projects include delivering two hydrogen-electric 44-ton on-road trucks (Europa) and a mobile power genset for use at Amsterdam’s Schiphol Airport. Other notable partners of Zepp, based in Rotterdam, include Total Energies, KLM, Dynell, and Terberg Benschop.

In 2023, Zepp received a €2M grant from the European Just Transition Fund to help set up its new assembly plant in the greater Rotterdam area. Once finished, the plant will be capable of producing up to 1000 units annually and is expected to generate around 100 new jobs.

SOURCE: Silicon Canals

Featured Image: Credit: Zepp.solutions