HPS Home Power Solutions welcomes EIT InnoEnergy as new shareholder

Berlin, 16 March 2021

Berlin-based HPS Home Power Solutions, provider of picea, the world’s first home solar-hydrogen power plant for completely independent and carbon-free electricity use, today announced EIT InnoEnergy as a new shareholder. The move deepens the partnership between the two companies that has been in place since 2019. In addition to acquiring an equity interest, EIT InnoEnergy will also support HPS Home Power Solutions by contributing its marketing and sales expertise, as well as promote market access through its global network.

EIT InnoEnergy is one of the most important European climate tech investors with the aim to accelerate the energy transition. HPS has been collaborating with EIT InnoEnergy since 2019 in a joint innovation project aimed at bringing the picea system developed by HPS to market. In 2020, EIT InnoEnergy also made a financial commitment to HPS. Under the agreements now in place, EIT InnoEnergy will support HPS in enhancing its market penetration and international scope. picea by HPS is the world’s first market-ready hydrogen-based storage system for one- and two-family houses.

“By acquiring this equity interest, one of Europe’s leading investors in sustainable energy is demonstrating its confidence in the potential and prospects of our picea system. The fact that the experts at EIT InnoEnergy are validating our technological approach and our long-standing research and development efforts is of great importance for HPS. We can now make even better use of EIT InnoEnergy’s capabilites, worldwide network and specialist expertise, while at the same time strengthening our shareholder base by adding an experienced institutional investor.”

Zeyad Abul-Ella – co-founder and Managing Director of HPS Home Power

“If Europe is to achieve its ambitious goal of becoming the first climate neutral continent by 2050, using green hydrogen on a large scale is absolutely necessary. picea by HPS is a promising and market-ready solution for private homes that will make a significant contribution to achieving the successful shift to green and sustainable energy.”

Christian Müller — CEO of EIT InnoEnergy Germany

About picea

picea is the world’s first hydrogen-based electricity storage system for one- and twofamily houses. The energy surpluses achieved on sunny days from a photovoltaic system are stored as green hydrogen to make electricity and heat available in the dark season. picea provides year-round, carbon-free full power supply and also reduces heating costs. One picea system avoids approx. 3 tons of CO2 per year, binding as much CO2 as 130 mature Spruce trees. The picea system has won several prestigious prizes, most recently the 2021 Handelsblatt Energy Award.

About HPS Home Power Solutions

HPS develops and produces integrated systems for the storage and use of solar energy for one- and two-family houses. The Berlin-based company was founded in 2014 by Zeyad Abul-Ella and Dr. Henrik Colell and stands for reliability, independence and sustainability in decentralized energy supply. picea, the first system developed by HPS worldwide, combines electricity storage, heating support and residential ventilation in one compact product. For more information, please visit: www.homepowersolutions.de/en

About EIT InnoEnergy

EIT InnoEnergy is the leading innovation driver for sustainable energy in Europe and beyond. EIT InnoEnergy has so far invested in more than 380 start-ups and assisted the market launch of their solutions through a broad range of additional services. EIT InnoEnergy promotes organizations by investing in all stages of the innovation process and uses its unique network of more than 500 partners along the entire value chain of the sustainable energy sector. Since its foundation in 2010 EIT InnoEnergy has invested more than €600 million in total and is supported by the European Institute of Innovation and Technology (EIT). For more information please visit: www.innoenergy.com

Contact HPS Home Power Solutions AG:

Nils Boenigk (Public Affairs & Public Relations)
Tel.: +49 30 235914-704
Email: nbo@homepowersolutions.de

Contact EIT InnoEnergy:

Soenke Moosmann (Marketing & Communications Officer, DACH Region)
Tel.: +49 152 554 603 21
Email: soenke.moosmann@innoenergy.com