What is typically sought
- Development capital
- Project equity for production facilities
- Construction and infrastructure capital
- Growth capital for technology businesses
- Strategic and industrial investment
- Joint venture capital
Sectors / Hydrogen
Hydrogen
Production, storage, distribution and the technologies that support them.
Overview
- Electrolytic production
- Storage
- Distribution
- Ammonia and derivatives
- Industrial offtake
- Mobility
Hydrogen attracts more attention than capital. The gap between announced capacity and financed capacity remains wide, and closing it depends less on electrolyser cost than on offtake certainty, power price and the treatment of support schemes in the financing case.
Investors have become disciplined about this. A project with a binding offtake, a defined power supply and a credible route through consenting will find capital. A project with a memorandum of understanding, an indicative subsidy position and an ambitious capacity figure generally will not, however strong the underlying engineering.
We review production projects, storage and distribution infrastructure, and technology businesses across the hydrogen value chain. Where the commercial position is evidenced rather than asserted, we introduce.
Capital requirements
Assessment
What we look for
- Offtake position and counterparty quality
- Power supply strategy and cost of electricity
- Consenting and permitting status
- Technology maturity and supplier warranties
- Treatment of any support scheme in the base case
- Sensitivity analysis that reflects real downside
Capital sources
Where introductions are made
- Energy transition and climate funds
- Industrial and strategic investors
- Infrastructure capital
- Development finance and sovereign backed vehicles
- Private credit
- Family offices with long horizons
Categories of capital, not named relationships. Fit is assessed against stated mandate on a case by case basis.
Seeking capital
Raising for a hydrogen opportunity
Tell us the stage, the amount, the instrument and what the capital funds. Where the requirement is defined and the evidence exists, we will tell you quickly whether we can be useful.
Capital partners
Investing in this sector
If your mandate covers hydrogen, set out the criteria you apply. Introductions are made only against them.