Exolum and Vopak Ventures, two prominent players in the energy and logistics sectors, have recently made strategic investments in the French start-up HSL Technologies. HSL Technologies is focused on developing innovative and cost-effective methods for the safe transportation and storage of hydrogen, a crucial element in the transition to a more sustainable energy future.
At the core of HSL Technologies’ offering is its proprietary solution called HydroSil®, a liquid silicon derivative that enables the efficient and secure transport and storage of hydrogen. This breakthrough technology addresses the fundamental challenge of safely and economically transporting hydrogen on a large scale. By introducing hydrogen molecules into a silica-based liquid carrier, the hydrogen can be released on demand. This carrier has been proven to be stable and can be stored and transported within existing infrastructure at ambient pressure and temperature.
What sets HydroSil® apart from existing solutions is its unique energy dynamics. While energy is required to bind hydrogen in the carrier, no energy is needed for its release. This zero-energy release represents a significant advancement in the hydrogen market, as it eliminates the energy costs associated with traditional hydrogen storage and delivery methods.
Exolum, a company that specializes in energy infrastructure and services with a strong commitment to innovation, views this investment as a strategic move to diversify its business and embrace new energy vectors such as hydrogen. By supporting the development of HSL Technologies, Exolum aims to contribute to the growth of the hydrogen sector and promote sustainable energy solutions.
Vopak Ventures, the investment arm of Royal Vopak, a leading global provider of storage and handling infrastructure for liquid and gaseous chemicals, also recognizes the potential of HSL Technologies’ HydroSil® solution. Vopak Ventures focuses on funding ventures that facilitate new sustainable solutions, making this investment a perfect fit for their New Energies, Feedstocks & Sustainability fund. By supporting HSL Technologies, Vopak Ventures aims to contribute to the advancement of sustainable logistics and storage solutions.
HSL Technologies’ president and CEO, Corine Dubruel, is excited about the investments from Exolum and Vopak Ventures. She believes that their expertise and market knowledge will be invaluable in scaling up the company and overcoming the barriers that currently hinder the widespread adoption of hydrogen-based applications. By addressing safety, regulatory, and supply chain issues, HSL Technologies aims to accelerate the deployment of hydrogen technologies and contribute to the decarbonisation of various industries.
In addition to Exolum and Vopak Ventures, HSL Technologies has attracted investments from other significant players in the industry. Equinor Ventures, the venture capital arm of the Norwegian multinational energy company Equinor, and EDP Ventures, the investment arm of the Portuguese utility company EDP, have also recently entered HSL Technologies’ capital. Furthermore, the European Innovation Council, the largest Deeptech investment fund established by the European Union to support start-ups, has joined as a shareholder, further validating the potential of HSL Technologies’ HydroSil® solution.
With a strong and diverse group of shareholders, HSL Technologies is well-positioned to accelerate the development and industrialization of its hydrogen logistics solution. The investments from Exolum and Vopak Ventures, along with the support from existing shareholders, will provide the necessary resources and expertise to propel HSL Technologies into a leading player in the hydrogen transportation and storage sector.
For more information visit www.vopak.com/ventures
