Suiso secures £3m from NPIF - Mercia Equity Finance to scale green hydrogen production.
The Rotherham-based clean energy startup raised the capital to scale its microwave technology and launch a pilot project.
Suiso develops proprietary microwave technology to generate low-cost, low-carbon hydrogen on-site for industrial and transport applications.
Suiso has secured £3m in funding from NPIF - Mercia Equity Finance, managed by Mercia Ventures, to advance its clean energy technology. The capital will support the business as it scales up operations and launches a pilot project for its hydrogen generators.
The Rotherham-based clean energy startup aims to manufacture units capable of producing 1,000 kg of hydrogen daily, sufficient to power fifty heavy goods vehicles. Alongside technology development, the company plans to expand its small team by creating seven new jobs over the coming months.
The firm's microwave-based system provides an alternative to traditional production methods, using significantly less electricity than grid-powered electrolysis. This latest injection of capital positions the business to move closer to commercialisation as demand for industrial decarbonisation solutions grows.
From the founder
"Hydrogen is rapidly emerging as a sustainable way to decarbonise the economy, but cost, availability, and other practical issues have held back its use. Our technology offers a way to overcome these and provide clean, low-cost power on-site. 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. This investment will help us move to the next stage on our journey to bring it to market."
Stuart McKnight
CEO at Suiso
Investor perspective
"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. 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."
Ashwin Kumaraswamy
Investment Director, Mercia
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets