International law firm Gowling WLG's energy team has advised clean hydrogen-dedicated investment fund HydrogenOne Capital Growth plc, on its first private equity investment – a €24 million (£20 million) minority equity stake in Sunfire GmbH ("Sunfire"), a leading electrolyser producer.

Sunfire manufactures alkaline and solid oxide electrolysers, which can be deployed to manufacture clean hydrogen in carbon-intensive sectors that are reliant on fossil fuels for energy. This investment forms part of a €109 million fundraising round, which includes other investors.

Energy partner, Gareth Baker and principal associate, Stephen Bowman, led the team from Gowling WLG that advised HydrogenOne on the investment. Gareth and Stephen were closely supported by colleagues from Gowling WLG's Stuttgart office, namely Andreas Woelfle and legal director, Florian Holfeld.

Partner Gareth Baker said: "It has been a pleasure to continue our longstanding work with HydrogenOne on this significant investment that will cement their role in the implementation of future hydrogen manufacturing projects. We look forward to continuing to work alongside the business as its expansion and new market penetration continues. "

Gowling WLG's multi-disciplinary energy team has a first-class reputation with regard to renewable energy and operates seamlessly around the globe. The deal is another example of the team's position in the energy sector and closely follows its advice to HydrogenOne earlier this year in relation to its £107.35 million fundraise and its listing on the premium-listing segment of the London Stock Exchange's Main Market. The team has also advised Eelpower on its joint venture with sustainable energy infrastructure fund manager SUSI Partners.