Ashurst advised HPS Home Power Solutions (HPS), the world's leading provider of green hydrogen-based year-round electricity storage for buildings, on a growth financing.
The financing in the form of a loan with Banco Santander will be used to finance further growth of the business. Banco Santander will also become a strategic growth partner for the financing and international distribution of the picea year-round electricity storage system.
HPS is based in Berlin, Germany and operates in the development and production of year-round electricity storage systems based on green hydrogen for homes, multi-family houses and commercial properties. HPS addresses important areas of the transition to green energy with its highly innovative picea year-round electricity storage system. Users can generate and store carbon-free energy to supply buildings with electricity and heat throughout the year.
The Ashurst team was jointly led by partner Dr Matthias Weissinger (Global Loans, Munich) and counsel Sabrina Bremer (Global Loans, Frankfurt). They were assisted by associate Lorenz Schwojer and senior transaction lawyer Ena Selimbegovic (both Global Loans, Munich).
Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.
