Harnyss closes equity investment in Riverbend Energy Group

FORT WORTH, Texas, June 9, 2022–(BUSINESS WIRE)–Harnyss, LLC (“Harnyss” or the “Company”), the market leader in solid-state hydrogen storage technologies, today announced the closing of an equity investment in Riverbend Energy Group (“Riverbend”). This investment in Harnyss comes from Riverbend’s new fund, Energy Transition (Fund X).

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Harnyss provides its customers with safe, cost-effective and clean energy hydrogen storage solutions. The company’s patented metal hydride alloy formulations have the highest weight density on the market, offer high absorption and desorption kinetics at room temperature, and are non-pyrophoric. The Company’s low-pressure storage solution does not require plant equipment balancing, providing customers with significant cost advantages and ease of operation. Additionally, Harnyss uses non-rare earth minerals which are abundantly available.

“We are excited to partner with Riverbend’s energy transition team to help us achieve our go-to-market and commercialization goals,” said Kirby Smith, president and CEO of Harnyss. “As we considered the right partner for this phase of the company, we were looking for experienced investors with experience in growing and scaling businesses within the broader energy transition.”

Harnyss is strategically focused on the market for mobile, remote and space constrained backup power systems. Harnyss’ advanced hydrogen storage material has been encapsulated in rack-mountable cartridges and, when coupled with a fuel cell, provides a plug-and-play hydrogen power unit to end customers . The Company has designed a green, self-contained and independent hydrogen supply system capable of capturing water from the atmosphere, which is used to produce hydrogen which is stored safely until it is is converted into electricity by a fuel cell. Harnyss also focuses on transportation and mobility applications such as forklifts, drones, electric vehicles, marine and heavy industry.

“Harnyss’ advanced technology provides a low-pressure, high-density, safe and cost-effective storage solution for the rapidly evolving hydrogen economy,” said Eric Danziger, Managing Director, Energy Transition, Riverbend Energy Group. “Harnyss is a good fit with the types of companies and technologies that fit our investment thesis in energy transition services companies across the entire renewable energy ecosystem.”

About Harnyss

Harnyss is headquartered in Fort Worth, Texas, USA, and specializes in solid state hydrogen storage technologies. Harnyss is backed by many years of experience, with a technical team of world-renowned scientists who have been instrumental in advancing metal hydride-based hydrogen storage for several decades. Harnyss leverages its patented hydrogen storage technologies to provide safe, economical and clean energy solutions to help its customers achieve their business goals. For more information visit: www.harnyss.com.

About Riverbend Energy Group

Riverbend Energy Group, based in Houston, Texas, is a multi-faceted investment firm, using risk-weighted deal evaluation processes to deploy capital into a variety of investment theses in the energy sector. energy in the United States. As a trusted name in energy investing, Riverbend’s portfolios have included, and continue to include, operated, non-operated, mining and royalty assets in traditional energy, as well as investments in the energy transition sector. Since 2003, Riverbend has successfully acquired, developed and managed over $5 billion in total enterprise value across ten asset portfolios. Riverbend is a direct investor in traditional energy and has longstanding relationships and tools from deep experience in the energy industry. Riverbend’s Energy Transition Fund is currently seeking investment opportunities in the area of ​​energy transition services, with a focus on the industries of energy management, solar, storage, wind, electric mobility, hydrogen and carbon capture. For more information, visit www.riverbendenergygroup.com.

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contacts

Kirby Smith, CEO
(214) 683-2084
[email protected]

Eric Danziger, Managing Director, Energy Transition
(713) 874-9000
[email protected]

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