SI new tech company receives $23 million in funding
Ōtautahi - New Zealand hydrogen storage firm Fabrum, a world leader in zero-emission transition technologies to enable a lower-carbon economy, has received $23 million in Series A financing.
The funding came from London-headquartered AP Ventures with participation from Australia-based Fortescue Future Industries, Japan-based Obayashi Corporation and New Zealand-based K1W1.
With the new funding, Fabrum plans to expand its global presence and scale up its manufacturing capacity with a new purpose-built manufacturing facility at its Christchurch headquarters to meet the growing demand for its end-to-end hydrogen systems and other technologies for aerospace, heavy transport and heavy industries.
Fabrum, founded in 2004, leads the world in industrialised small to medium-scale liquefaction systems and composite cryogenic vessels.
It has earned a global reputation as an innovator for its core competencies in green hydrogen production, storage, dispensing, and system integration.
The company actively deploys end-to-end liquid hydrogen solutions globally across heavy transport, mining and aviation markets.
It also has a strong presence in the traditional cryogenic markets of liquid nitrogen (LIN), liquid oxygen (LOX), liquid natural gas (LNG) and liquid air (LAIR), with a global customer base spanning animal husbandry, hi-tech research institutions and manufacturing.
Fabrum chair Christopher Boyle says the investment is a critical milestone for Fabrum, validating the tech development pathway built over the last 18 years.
Fabrum was created to leverage Christchurch’s strong technology manufacturing history and Canterbury University’s renowned engineering school.
The investment follows Fabrum recently signing a manufacturing agreement with CPH2, the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser (MFE).
This will enable Fabrum to manufacture electrolysers in Christchurch, New Zealand, that the company uses alongside its cryogenic technologies to create hydrogen production systems.
Lisa was born in Auckland at the start of the 1970s, living in a small campsite community on the North Shore called Browns Bay. She spent a significant part of her life with her grandparents, often hanging out at the beaches. Lisa has many happy memories from those days at Browns Bay beach, where fish were plentiful on the point and the ocean was rich in seaweed. She played in the water for hours, going home totally “sun-kissed.” “An adorable time to grow up,” Lisa tells me.
Lisa enjoyed many sports; she was a keen tennis player and netballer, playing in the top teams for her age right up until the family moved to Wellington. Lisa was fifteen years old, which unfortunately marked the end of her sporting career. Local teams were well established in Wellington, and her attention was drawn elsewhere.