The financing, led by London-based AP Ventures, Fortescue Future Industries (FFI), Obayashi Corporation and K1W1, will be used to decarbonise the economy.
With the funding, Fabrum plans to expand its global presence and scale up its manufacturing capacity with a new purpose-build manufacturing facility in Christchurch, New Zealand, to meet growing demand for end-to-end hydrogen systems, aerospace and heavy transport and industries.
Fabrum deploys end-to-end liquid hydrogen solutions globally across heavy transport, mining and aviation markets.
Christopher Boyle, Founder and Chairman of Fabrum, said, “Bringing capability and talent together to develop world-leading technology that will genuinely enable a global shift to sustainable transportation and industry has been our core purpose.”
Dr Ojas Mahapatra, CEO of Fabrum, added, “This investment will help us accelerate our game-changing technologies to unlock value in the zero-emission transition value chain and offer a new future for sustainable transport, travel, industry and energy self-sufficiency.”
The investment follows the recent announcement that Fabrum signed a manufacturing agreement with CPH2 for an acceleration of the roll out of its Membrane-Free Electrolyser (MFE) technology across Australia and New Zealand over 10 years.
The first shipment (MFE220) has been delivered to Fabrum’s facilities in New Zealand, where it will be completed and fitted out with the remaining components and commissioned for use.
Read more: CPH2 and Fabrum sign manufacturing agreement
Mark Hutchinson, CEO of FFI, said, “The innovative applications being developed by Fabrum will contribute to the growth of supply and demand for green hydrogen globally and help to deliver on Fortescue’s decarbonisation plan for its mining operations.”
Dr Ken Ado, Managing Executive Officer and Head of Green Energy Division of Japan-based Obayashi Corporation, said, “Taking full advantage of Fabrum’s technological capabilities and Obayashi’s proven track record, we are undeniably confident of bringing up the possibility of further expanding our hydrogen business.”
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