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HPS Home Power Solutions GmbH Announces Closing of its Financing Round at EUR 12.5 million

By June 27, 2019

June 27, 2019

  • Financing of the Ramp-Up-phase of the production and Picea(R)-commercialization
  • After first closing of 7.5 million EUR in January the financing round now has been closed successfully.

Berlin– HPS Home Power Solutions GmbH (HPS), the Berlin-based energy solutions provider for single-family homes which fulfils the need of energy independence, today announced the successful closing of its current financing round.

The investors of the company provide fresh growth capital via proprietary capital of 5 million EUR. Already in January HPS announced a first closing of 7.5 million EUR. Thus, HPS raised 12.5 million EUR in total.

“We thank everyone who contributed to the successful completion of our financing rounds, who had confidence in us. We are very happy about the recognition of our work, the HPS-team, the technology and the product”, commented Zeyad Abul-Ella, CEO of HPS Home power Solutions GmbH. “We excelled the early stages of development and now have the financial resources to focus on the efficient handling of advance bookings and requests: The ramp up phase of the production and Picea(R)-commercialization are now financially covered. Thus, we can contribute to our customers’ wish of an energetic and independent one-family house.”

About HPS Home Power Solutions GmbH (HPS):
HPS develops and produces integrated systems for storing and using solar energy in single- and multi-family homes. HPS stands for reliability, independence and sustainability in decentralized energy supply. The first system from HPS, Picea, combines energy storage, heating support and indoor ventilation in one compact product. Thanks to its high-performance energy management system, Picea is able to meet the complete electrical energy needs of a single-family home. In addition, all waste heat produced is used to provide the house with heat and hot water, thus lowering the cost of heating. Compared to commercially available batteries, Picea has a hundred times more storage capacity with twice the output. Picea is energy efficient and provides power all year round, enabling complete energy self-sufficiency and independence from the grid. The energy produced by the photovoltaic installation on sunny days can either be used straightaway or converted into hydrogen and stored. This energy is then made available at night, or during winter when there is limited sunshine. The HPS system’s fuel cell converts the energy stored as hydrogen back into electrical energy and heat as needed. HPS is based in Berlin. For more information, please visit: www.homepowersolutions.de

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