Rapid Innovation Group advises HydRegen on its £6m Series A raise

Rapid Innovation Group has advised Oxford spin-out HydRegen on its £6 million Series A.

HydRegen’s enzyme-based catalysts substitute directly in legacy chemicals plants for the metal catalysts used in hydrogenation reactions. Operating at ambient temperature and pressure, they enable 40-50% cost savings for the customer, alongside a comparable reduction in carbon emissions.

The round brings together a strong international syndicate led by Genoa Ventures, one of the leading US investors in companies that use biology to transform industrial production. Existing investor Clean Growth Fund and European energy transition investor First Imagine! Ventures have also participated, together with a syndicate of smaller investors.

Rapid Innovation led the fundraising process, working closely with HydRegen’s leadership team on both the investment proposition and the commercial strategy underpinning it.

Simon Jackson, Director of Capital Activation at Rapid Innovation, said:

“The current environment is very tough. Only the best companies are being funded. HydRegen has a rare combination: highly differentiated technology, compelling economics for both company and customer, and a frictionless adoption pathway. In addition, the HydRegen leadership team is best-in-class across the scientific, commercial, engineering and fundraising functions that are critical for a Climate Tech company at this stage.

Even then, it was challenging to find a lead investor with the ability to diligence both the chemistry and the biology. Genoa Ventures had the expertise and patience to do so, and functioned as a highly credible lead for the syndicate to form around. We are immensely excited about HydRegen’s future with its new backers in place.”

Dr Holly Reeve, CEO and co-founder of HydRegen, said:

“Rapid Innovation has been a real partner to HydRegen through this raise. They understood that, for us, fundraising and commercial strategy couldn’t be separated. They worked alongside our team to sharpen the commercial proposition, support important customer conversations and find investors who really understood both the science and the scale of the opportunity. We’re delighted with the syndicate we’ve brought together and hugely grateful for Rapid Innovation’s role in getting us here.”

About Rapid Innovation Group

Rapid Innovation Group helps early-stage deep tech and climate tech companies secure the landmark commercial deals and investment they need to scale. Combining strategic judgment with hands-on deal execution, it works alongside leadership teams to turn innovative technologies into commercially successful businesses. Based in London, Rapid Innovation has worked with companies from pre-revenue to Series B for over 20 years, across the UK, Europe and North America.

Rapid Innovation Group is authorised and regulated by the Financial Conduct Authority.