Fabrum recently announced a $23 million Series A financing led by 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.
Christopher Boyle, Founder and Chairman of Fabrum, said: “This investment is a critical milestone for Fabrum, validating the technology development pathway that fellow founder Hugh Reynolds and I have built over the last 18 years. 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.”
Andrew Hinkly, Managing Partner at AP Ventures said: “We are very pleased to invest in Fabrum and to help further unlock the hydrogen opportunity for a mature and established technology. We are looking forward to working with Fabrum, alongside our co-investors, as the Company delivers end-to-end products and solutions across the liquid hydrogen value chain.”
Mark Hutchinson, CEO of Fortescue Future Industries, said: “FFI is pleased to invest in Fabrum, an incredibly well respected and highly credentialed New Zealand company. Our investment provides us with a share in a company developing world-leading applications for hard-to-abate sectors like mining, heavy transport and aviation.
New Zealand based Fabrum works on 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.