New Zealand company Fabrum, a world leader in zero-emission transition technologies to enable a lower-carbon economy, has announced its $23 million (€21.3 million) Series A financing led by 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, New Zealand, headquarters.
Christopher Boyle, founder and chairman of Fabrum, says: ‘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. Fabrum was created to leverage Christchurch’s strong technology manufacturing history and Canterbury University’s very talented Engineering School. 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. It is truly exciting to have the support of this world-class group of investors to deliver on this vision.’
The investment follows the recent announcement that Fabrum signed 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 that the company can use alongside its cryogenic technologies in order to create hydrogen production systems.
