Issuer: HPS Home Power Solutions AG / Key word(s): Capital Increase
HPS Home Power Solutions successfully completes capital increase to finance further growth
Berlin, 9 January 2023 – HPS Home Power Solutions AG, the world's leading provider of green hydrogen-based year-round electricity storage for buildings, has completed a capital increase of €22 million. The capital increase was subscribed by a German entrepreneurial family and several existing shareholders. HPS is using the capital raised to continue on its growth path in Germany and internationally.
"We are pleased that we were able to carry out the capital increase with existing shareholders as well as with a new anchor shareholder. This further strengthens our liquidity and capital structure and puts us in an excellent position for the tasks ahead," says Jewgeni Elster, CFO of HPS. "The positive response to the capital increase shows that investors are just as convinced of our path. As a pioneer, we are in an excellent market position throughout Germany with our year-round electricity storage picea."
Already in July last year, HPS received a total of 30 million euros in loans from Santander Bank. In 2022, HPS also made further important progress in its corporate development.
The sales network via partners was expanded, who are trained in the newly launched digital HPS Academy. In addition, the first multi-picea in a building with several residential units has been inaugurated, where several picea systems are cascaded. This application can also be optimally used by commercial customers. HPS has also developed a sustainability strategy that is being implemented step by step. HPS recently received a good ESG rating.
In 2023, the funds from the capital increase will be used to accelerate the technological development of picea, expand national and international sales activities and strengthen working capital. The company plans to continue its strong growth course and to continue to expand at a triple-digit growth rate.
M.M.Warburg & CO exclusively advised Home Power Solutions AG as transaction advising investment bank on this financing round.
About picea and HPS Home Power Solutions AG
HPS is the world leader in the development and production of integrated energy storage systems based on green hydrogen for homes, multi-family houses and commercial properties. HPS addresses important areas of the energy transition with its innovative picea year-round electricity storage system. The surplus energy generated by a photovoltaic system on sunny days is stored as green hydrogen and used in the dark season to supply electricity and heat. Thus, buildings can be provided with solar energy from their own roofs all year round. The Berlin-based company was founded in 2014 by Zeyad Abul-Ella and Dr. Henrik Colell. HPS has won several prestigious awards with picea, most recently the Handelsblatt Energy Award, the Berlin-Brandenburg Innovation Award and the Sustainability Challenge of the German Sustainable Building Council.
For more information, visit: www.homepowersolutions.de
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