HYCAP invests £10 million in ion Ventures, a clean energy leader

Net zero asset manager HYCAP today announced a £10m investment in ion Ventures as it continues to grow its decarbonisation portfolio.

HYCAP’s funding is part of a wider equity raise for ion Ventures’ co-founders Dan Taylor (pictured right) and Hassen Bali (pictured left) following their strategy to develop, build, own and operate energy storage and renewable energy assets.

The eight-figure investment will help continue supporting independent and regional renewable power production as well as developing energy storage assets.

Ranked 17th fastest growing technology company in the UK by Deloitte in its 2023 Technology Fast 50, ion Ventures has participated in a series of important industry milestones, including demonstrating the commercial viability of sodium-ion technology for grid connected storage.

HYCAP’s investment underlines its commitment to advancing sustainable solutions to the climate crisis and follows significant investments across the UK, as well as global outreach into the Middle East to help speed up the world’s transitional journey to clean energy and clean technology.

Investing across the net zero value chain, HYCAP portfolio companies also include: Wrightbus, which manufactures EV and hydrogen fuel cell buses; Ryze, which transports and distributes renewable energy; Hygen, a hydrogen production facility; Liquid Wind, a green electrofuel development company; Yamna, a global green hydrogen platform, and green fintech Zeti.

Scott Lanphere, HYCAP’s Chief Investment Officer, said: “Although a climate emergency was announced in 2021 it still feels like the world isn’t taking the issue seriously enough. But this funding support, along with the hundreds of millions of pounds we have already invested, shows how seriously HYCAP takes it.

“We are delighted to welcome ion Ventures to our stable and we are committed to working collaboratively and strategically to reduce our reliance on fossil fuels.”

Hassen Bali explained: “As the complexity of our energy systems increases, with a shift to distributed generation and more localised networks, the need for clean, flexible and responsive solutions is paramount. HYCAP has seen the importance of our mission and we are hugely indebted to Scott and the team for their support, as we accelerate our portfolio through all stages from development to operational, diversified across our selected markets.”

Jo Bamford, Chairman and founding partner of HYCAP Group, added: “We continue to explore all avenues in our bid to accelerate decarbonisation and we truly believe in what Dan and Hassen are trying to achieve at ion Ventures.”

To learn more about HYCAP, click here