ULEMCo Secures £5 Million Funding to Advance Hydrogen Fuel Conversion Technology

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Liverpool-based ULEMCo, a company specialising in converting commercial vehicles to run on hydrogen fuel, has successfully raised over £5 million in funding. Celebrating its tenth anniversary, ULEMCo, founded by cleantech expert Amanda Lyne, continues to innovate with its dual fuel solution, H2CED, which enables heavy-duty vehicles to operate on hydrogen while retaining the option to use diesel when necessary. This technology offers a practical solution for reducing carbon emissions without the need to replace existing fleets, making it suitable for various vehicles, including refuse trucks and road sweepers.

The recent investment round was led by Mercia Ventures, with contributions from existing investors such as Equity Gap, Scottish Enterprise, and the North West Fund. This financial boost will enable ULEMCo to expand its skilled conversion team, develop new hydrogen-based products, and create around 100 new jobs across the UK over the next three to five years. The funding will also support ULEMCo's ongoing efforts to provide commercially viable hydrogen fuel solutions for both public and private sector fleets.

Amanda Lyne, ULEMCo’s Founder and Managing Director, emphasised the importance of hydrogen in the transition to clean mobility and achieving net zero emissions. "These investments are a strong endorsement of our technology, capabilities, and vision. The time is right for hydrogen to take an even more important role in the move to clean mobility and net zero," she stated.

The company has already seen significant demand from businesses and local authorities, particularly in Scotland. For instance, Aberdeen now boasts 55 hydrogen-enabled vehicles, thanks to ULEMCo’s first fleetwide conversion contract with the City Council. This contract supports the development of a local hub and cluster in Aberdeen, generating potential demand for over 50 tonnes of hydrogen annually. These converted vehicles are already operational, contributing to cleaner air and advancing net zero ambitions.

Mercia Ventures' Rob Hornby highlighted the challenges faced by fleet operators in reducing carbon emissions, noting the limited options available for heavy-duty vehicles. "Almost all heavy-duty vehicles and machines are powered by diesel, but fleet operators are under pressure to reduce carbon. However, there are limited options – electric vehicles do not work for heavy-duty use, and biofuel solutions have not yet proven to be scalable. ULEMCo offers a practical and effective alternative," he explained.

The NPIF investment was part of the first Northern Powerhouse Investment Fund, which has since closed. The new Northern Powerhouse Investment Fund II, launched in March 2024, is now open for applications, continuing to support innovative companies like ULEMCo in their efforts to decarbonise the transport sector.

Fraser Lusty, Director of Equity Gap, expressed excitement about increasing their support for ULEMCo. "Hydrogen is an important part of achieving net zero, and ULEMCo is showing itself well-placed to drive implementation of this clean fuel with immediate benefits," Lusty said.

ULEMCo’s dual fuel technology represents a significant advancement in the field of clean mobility. By enabling existing diesel vehicles to run on hydrogen, the company provides a cost-effective and scalable solution to reducing carbon emissions in the heavy-duty vehicle sector. This approach not only helps fleet operators meet regulatory pressures but also contributes to broader environmental goals.

In recent months, ULEMCo has focused on offering solutions that enable companies, operators, and the public sector to adopt hydrogen fuel in their fleets. The company has standardised its dual-fuel solution across different vehicle types, ensuring a wide applicability and ease of implementation. This standardisation has proven especially beneficial for local authorities looking to decarbonise their operations without incurring the high costs associated with replacing their entire fleet.

As ULEMCo continues to grow and innovate, the new funding will undoubtedly accelerate its mission to provide cleaner, hydrogen-based transportation solutions. With the strong backing from investors and a proven track record in hydrogen vehicle conversion, ULEMCo is well-positioned to lead the way in the transition to a sustainable, low-carbon future.

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