Wild Hydrogen is on a mission to drive decarbonisation.
Business overview
| Location | Gloucester, United Kingdom |
|---|---|
| Social media | |
| Website | www.wildhydrogen.com |
| Sectors | Energy Non-Digital B2B |
| Company number | 13911460 |
| Incorporation date | 11 Feb 2022 |
Investment summary
Business highlights
- Supports energy transition; bio-methane & hydrogen
- Granted patent for Rising Pressure Reformer (RiPR)™
- Four prototypes, scaling the technology to TRL 6
- Raised over £4M to date, £2M in 2024
Key features
Pitch
About the Campaign
Wild Hydrogen is on a mission to help decarbonise UK industry. With four prototypes developed, we are now advancing towards building a 1 MW commercial demonstrator to prove our proprietary process at scale, which we aim to have ready in 2028.
Our innovative RiPR technology transforms wet biogenic materials into high-yield hydrogen. From agricultural residues to diverse waste streams, the feedstocks we use require minimal pre-processing and produce a gas blend from which carbon dioxide can easily be extracted.
This leaves behind hydrogen, bio-methane, and a small residue of char. By using biogenic feedstocks and sequestering the carbon dioxide, we can deliver a carbon-negative fuel solution.
Our technology is primed to serve a wide range of sectors - from powering hydrogen fuel cells for electricity generation to producing gas blends capable of meeting the energy demands of heavy industry and transport.
The hydrogen and/or bio-methane generated by our process has immediate and versatile applications. It can directly support the decarbonisation of the gas grid and hard-to-abate sectors. As policy evolves, we believe that our flexible process means we are well-positioned to integrate with future hydrogen blending initiatives.
Market Opportunity
The global hydrogen market is set to surpass $200 billion by 2030 (IEA Global Hydrogen Review 2023), yet most of today’s hydrogen is still produced using fossil fuels without carbon capture.
With the ambitious Net Zero targets and growing decarbonisation efforts, we believe that Wild Hydrogen’s technology is primed to meet the rising demand for clean energy.
We’re collaborating with Wales & West Utilities to explore how our carbon-negative hydrogen can help decarbonise the gas grid and offer a cleaner alternative to grey hydrogen. We believe that investing in Wild Hydrogen supports a key transition towards a sustainable, low-carbon future.
Traction & Key Accomplishments
Founded in 2022, Wild Hydrogen has grown from 2 to 14 team members, securing over £4M in investment as well as key grants, including £250K from BEIS to develop our RiPR technology.
Our latest prototype, Mini, is scaled up by an order of magnitude, informing the design of our 2028 commercial demonstrator.
Collaborations with esteemed institutions like the Hydrogen Innovation Initiative (HII), Centre for Process Innovation (CPI), the Manufacturing Technology Centre (MTC), the University of Edinburgh and Cranfield University, as well as Helical Energy, have accelerated our progress.
Our leadership team is backed by a powerhouse board. Chair David Gammon has scaled multiple unicorns, previously served as NED at DeepMind (now Google DeepMind), and currently serves as NED at Raspberry Pi Trading.
Investor Director Dr Jonathan Milner, founder of Abcam plc, has supported over 70 companies and played a key role in three successful IPOs on the London AIM Stock Exchange.
Non-Executive Director Prof. John Oakey is a specialist in energy technologies at Cranfield University and leads a large-scale Government-funded hydrogen project. Together, we’re driving the future of clean energy to transform hydrogen production and decarbonise industry.
Use of Funds
This raise is part of a larger seed round of £6 million, of which £2 million has already been raised. It will be used to drive Wild Hydrogen’s growth by focusing on the following critical areas:
• Commercial demonstrator development: A major portion will fund the design of our 1 MW demonstrator, crucial for validating our technology at scale and unlocking future partnerships and funding.
• Research and development: Funds will support ongoing R&D to enhance our RiPR technology, explore new feedstocks, and optimise carbon capture, while collaborating with industrial partners for continuous innovation.
• Operational expansion and talent acquisition: We will invest in expanding our operational infrastructure and recruiting top talent in engineering, production, and business development to scale up efficiently.
* Please note, that this is an early stage company that is still in development, and will rely on investment generated to scale and become commercially active. Please ensure you are comfortable with the risks associated and are prepared to lose all of the money you invest.
Key Information
Helical Energy
Wild Hydrogen's preferred provider to engineer and manufacture the prototypes is a company called Helical Energy.
Helical Energy was originally founded by Mark Wickham, founder and CEO of Wild Hydrogen.
He has stepped down from Helical Energy and is no longer a shareholder.
Outstanding Convertible Loan
The company has the following outstanding convertible, which may convert to equity after this round and dilute existing shareholders:
- a £1,000,000 advanced subscription agreement, which shall convert into shares on a quarterly basis, starting 30 September 2024.
• In each quarter, a portion of the Loan (being a sum equal to 50% of the third party investment raised in the preceding quarter) shall be converted into shares.
• On 30 September 2024, the conversion price would have been the lower of (i) £5.32 and (ii) the lowest price in the round, and the subscription shares shall be the same class of shares (being the most senior class of shares) as issued to investors in the preceding quarter. No shares converted on 30 September 2024.
• On any subsequent quarter, the conversion price shall be a discounted share price from the lower of (i) £5.32 and (ii) the lowest price in the round, and the subscription shares shall be the same class of shares (being the most senior class of shares) as issued to investors in the preceding quarter. This process shall repeat until all funds have been converted.
So for example:
If the Company raises £500,000 in a third-party round then £250,000 of the ASA funds will be used and a balance of £750,000 shall remain outstanding. The ASA funds will attract the discount rate upon conversion. This process shall repeat each quarter (with the next quarter starting on 31 December 2024) until all the ASA funds have been used to subscribe for shares.
In the event of an exit, where any funds have not converted, the ASA Subscriber shall receive shares at the price per share paid by the buyer for the most senior class of shares then in issue in the company.
Share Classes
The Company currently has three classes of shares, A Ordinary Shares, B Ordinary (Non-Voting) Shares and Ordinary Shares. All investors in this round, including Seedrs investors, will receive A Ordinary Shares.
Holders of A Ordinary Shares and Ordinary Shares will receive voting rights and dividend rights. Holders of B Ordinary Shares will not receive a vote, but will have dividend rights.
Liquidation Waterfall
On an exit and liquidation, holders of A Ordinary Shares shall receive a 1x non-participating preference which has been drafted to be compatible with SEIS relief.
This means that on a liquidation, return of capital or exit, the proceeds will be distributed as follows:
(1) First, A Ordinary Shareholders will receive a return equal to the higher of (i) 1x their initial investment back (or, if there are insufficient amounts to do so, an amount pro rata to their investment amount) or (ii) their share of the proceeds pro rata to the number of shares held as if they had converted into Ordinary Shares;
(2) Second, B Ordinary (Non-Voting) Shareholders and Ordinary Shareholders will receive their share of the remaining proceeds pro rata to the number of shares held by them.
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