Key Investors and Strategic Goals

The Series B round was spearheaded by existing backers Barclays Principal Investments and SWEN Capital Partners, with new support from ITOCHU Corporation and Toho Gas Co..

ITOCHU, a Tokyo-based global trading company, emphasized its commitment to leveraging Protium's solutions for international markets, particularly in Asia and Japan. "We aim to promote green hydrogen globally and contribute to achieving carbon neutrality across supply chains," stated a representative from ITOCHU.

Protium's Expanding Portfolio

Since its first hydrogen production in March 2023, Protium has worked with industrial and transportation clients, tailoring solutions to meet specific energy needs. CEO Christopher Jackson highlighted Protium’s focus on customer-oriented services, which align with its "Sampo-yoshi" corporate philosophy—ensuring benefits for all stakeholders.

In the UK, Protium benefits from supportive hydrogen policies, including the Contract for Difference (CfD) incentive program and the Starmer administration's recent budget allocations for large-scale green hydrogen projects. These frameworks have positioned the UK as a leader in hydrogen adoption, driving demand for Protium’s solutions in industrial heat applications and transportation.

Expanding Hydrogen's Global Reach

Through this investment, Protium aims to accelerate its UK initiatives while also positioning itself for international expansion. ITOCHU plans to integrate Protium’s green hydrogen solutions across its global customer network, particularly in Asia, where demand for low-carbon supply chains is growing.

Christopher Jackson, CEO & Founder of Protium, said:

“We are delighted with the additional investment that our partners Barclays and SWEN have provided to the company, and that we have been able to bring two new industrial investors, ITOCHU and Toho, to join the business. We truly believe that having world leading investors is crucial to success in the green hydrogen market, and we could not ask for a better group of partners to support the next steps of our journey.”

Steven Poulter, Head of Barclays Climate Ventures said:

“Today’s round reaffirms that green hydrogen is key to the energy transition, recognising that electrification alone won’t decarbonise all aspects of our economy, particularly industry. With its end-to-end service, Protium is playing a key role in scaling both the production and supply of green hydrogen, presenting significant revenue opportunities as the demand for green hydrogen grows.”

Thibauld Thuilliez, Investment Director SWEN Capital Partners said:

“As a longstanding investor in Protium, I am delighted to continue supporting the company in its growth and ambitions. It is a privilege to back such a highly regarded and experienced team, a true leader in the green hydrogen sector in the UK.”

Kazuhiko Inomata, Deputy Chief Operating Officer, Energy & Chemicals Division, ITOCHU Corporation said:

“We are excited to take part in hydrogen ecosystem led by Protium, who has become one of the leading players within UK green hydrogen space supported by experienced management team and its consumer-oriented approach enabling to materialize hydrogen value chain. Down the road, we look to expand its unique business model into international markets by leveraging our global network with a wide range of customers who need to decarbonise its supply chain with hydrogen. We look forward to supporting the execution of Protium’s growth strategy over the coming years as a strategic shareholder.”

Mitsuhiro Otsu, Executive Officer and General Manager of Business Development Department, Toho Gas Co., Ltd said:

“We are delighted to participate in Protium’s Series B funding round. We firmly believe that Protium’s local production and consumption model for green hydrogen plays a significant role in accelerating regional decarbonization and aligns well with our vision for energy solutions. Through collaboration with Protium, we aim to contribute to the realization of a low-carbon and decarbonized society.”

Finland Banking on Hydrogen Economy