HPS Home Power Solutions obtains growth financing from Banco Santander S.A.

Berlin, 04 July 2022

HPS Home Power Solutions (HPS), the world’s leading provider of green hydrogen-based year-round electricity storage for buildings, has signed a 30 million EUR financing in the form of a loan with Banco Santander S.A.to finance for further company growth. Banco Santander S.A. will also become a strategic growth partner for the financing and international distribution of the picea year-round electricity storage system.

“The awareness for our company and the demand for our year-round electricity storage picea are constantly increasing. We are receiving enquiries for the product from all continents. In this respect, we are happy not only to finance the next growth step with Banco Santander S.A., but also to collaborate strategically in the long term. We will use the financing to further expand our structures and to further develop the technology and grow internationally. A special thanks and appreciation goes to our long-standing shareholder and partner EIT InnoEnergy and its CEO for the DACH region, Christian Müller, for initiating this important partnership,”

explains Jewgeni Elster, CFO of HPS.

“As a globally active financial institution, we consider it our responsibility to support technological innovations for climate protection. The areas of renewable energies and energy storage are of particular importance. The strategic collaboration with HPS is therefore an important matter for us. The picea year-round electricity storage system can make a significant contribution to being able to use renewable energy sources in the building sector throughout the entire year, regardless of weather conditions,”

adds Lucas Arangüena Pazos, Global Head of ESG & SustainableTech at Banco Santander S.A.

HPS will invest the funds from the financing in the company’s growth. In the process, the organizationalstructures and sales will be further expanded, and the internationalisation will be advanced. In addition, HPS will continuously develop the technology behind picea. The loan benefits from support by the EGF Guarantee Instrument, implemented by the European Investment Fund with the financial backing of the Member States contributing to the EGF.

About HPS Home Power Solutions AG

HPS is the world leader in the development and production of year-round electricity storage systems based on green hydrogen for homes, multi-family houses and commercial properties. HPS addresses important areas of the transition to green energy with its highly innovative picea year-round electricity storage system. Users can generate and store carbon-free energy to supply buildings with electricity and heat throughout the year. 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 systems. For more information, visit: www.homepowersolutions.de

Inquiries to HPS Home Power Solutions AG

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