- Zepp.solutions, a key player in the European hydrogen fuel cell market, announced a €3 million investment from Rotterdam Energy Transition Fund and a private investor
- This is the company’s first external capital injection since its inception in 2017 and will be used to accelerate growth and increase operational capabilities in response to growing market demand.
- Zepp.solutions’ fuel cell systems are designed for medium to heavy-duty applications, enabling industries like transportation and maritime to transition to zero-emission technologies.
- The company also recently secured a €2 million grant from the European Just Transition Fund, to increase its production capacity to 1000 units annually.
Zepp.solutions, a leader in the European hydrogen fuel cell industry, has secured a €3 million investment. This funding comes from the Rotterdam Energy Transition Fund and a reputable private investor deeply embedded in the Rotterdam tech scene. The investment will support zepp in expanding its operational capabilities in response to rising market demands.
This is the first external capital injection for zepp.solutions, which has grown into a multi-million company on a bootstrapped basis since its foundation in 2017. This expansion is a strategic move to meet the rising market demand for zepp.solutions fuel cell systems as the European hydrogen sector is moving towards implementation on a larger scale.
“Receiving this first investment is a major milestone for our team” said Jonas Brendelberger, co-founder of zepp.solutions. “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.”
Erik van der Zant, Head of Investments at InnovationQuarter and interim fund manager of the Energy Transition Fund: ”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.”
Alderman Chantal Zeegers of Rotterdam commented on the investment: “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
Zepp’s hydrogen fuel cell systems contain all the hard- and software required to turn hydrogen gas into usable electricity at high efficiency and unparalleled power density. These systems are specifically designed for medium- to heavy-duty applications and enable manufacturers of trucks or machines and shipyards to transition towards zero-emission technology. The large scope of integration minimizes the required integration
Recent examples of applications with zepp’s technology are the Ab Initio inland barge by Concordia DAMEN, the Rotterdam-based hydrogen water taxi and several Liebherr excavators. Another major success story is the integration of a zepp system into a yard tractor by Terberg Benschop, this vehicle has been operating on hydrogen since October 2020. Upcoming deliveries include two fuel cell powered hydrogen-electric 44t on-road trucks (Europa), as well as a mobile power genset to be used at Amsterdam’s Schiphol Airport.
Last year, zepp.solutions secured a €2 million grant from the European Just Transition Fund to support the establishment of their new assembly plant in the greater Rotterdam area, which, once completed, will have an annual capacity of up to 1000 units and will create up to 100 new jobs.
Result of collaboration
The successful fundraising is the result of a long and intensive collaboration between zepp.solutions and InnovationQuarter, manager of the Rotterdam Energy Transition Fund. Earlier, InnovationQuarter supported zepp.solutions in the development of the world’s first hydrogen-powered water taxi in Rotterdam.
About zepp.solutions
Zepp.solutions is a leading hydrogen fuel cell system supplier in Europe. The company designs and produces drop-in fuel cell systems for various medium- to heavy-duty markets. Zepp.solutions enables their client’s transition towards zero-emission operations by offering fully integrated hydrogen fuel cell systems with minimum integration complexity.
Founded in 2017 as a spinoff from TU Delft’s hydrogen racing team ‘Forze’, zepp.solutions is active in multiple markets, domestic and international, and has delivered equipment that is operational in the field for various customers such as Terberg Special Vehicles, KLM and Concordia Damen.
CapFit and Benvalor served as financial- and legal advisors to zepp.solutions, respectively, for this financing round.
About Rotterdam Energy Transition Fund
The ‘Energietransitiefonds Rotterdam’ is a €100 million investment fund of the City of Rotterdam. The fund finances innovative companies and large sustainable projects that can contribute to Rotterdam’s energy transition and circular economy. With the fund, the city aims to reduce CO2 emissions, improve air quality and reduce the use of raw materials. InnovationQuarter acts as fund manager for the Rotterdam Energy Transition Fund.
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