HVR Energy Raises €20M Series A Led by Sandton Capital Partners

HVR Energy Closes €20 Million Series A

HVR Energy (Hidrogeno Verde Renovable), a Madrid-based operator of hydrogen refuelling infrastructure in Spain, has raised a €20 million Series A round led by Sandton Capital Partners. The round also includes participation from Barents Re and Langur.

What HVR Energy Does

HVR Energy develops and operates hydrogen refuelling infrastructure in Spain. Its stations are modular, compact, and scalable, designed to integrate into existing sites and grow with demand. The company serves professional fleets as well as light-duty hydrogen vehicles.

The modular approach is central to the company's model: stations can be deployed into existing locations and expanded as hydrogen demand increases, rather than requiring large upfront buildouts. This flexibility is aimed at both fleet operators and the emerging light-duty hydrogen vehicle segment.

Operational Track Record

HVR Energy opened its first station in Coslada (Madrid) in 2023. The company aims to reach 75 operational stations across Spain by 2030, a target that implies a significant buildout of hydrogen refuelling capacity over the coming years.

Funding Details

• Company: HVR Energy (Hidrogeno Verde Renovable)
• Headquarters: Madrid, Spain
• Round type: Series A
• Amount: €20,000,000
• Lead investor: Sandton Capital Partners
• Additional investors: Barents Re, Langur
• Funding date: September 9, 2026
• Currency: EUR

Why This Round Matters

The €20 million Series A provides HVR Energy with capital to expand its hydrogen refuelling network in Spain. With one station already operational in Coslada since 2023 and a stated goal of 75 stations by 2030, the company is in a buildout phase where financing is critical.

Hydrogen refuelling infrastructure is a capital-intensive business that depends on coordinated deployment with vehicle adoption. HVR Energy's modular, scalable station design is intended to reduce deployment friction by fitting into existing sites and scaling with demand — an approach that could help it grow alongside fleet and light-duty vehicle uptake.

The investor group combines a lead in Sandton Capital Partners with Barents Re and Langur. For a Series A in infrastructure, this syndicate provides the funding needed to move from a single operational station toward a multi-site network.

What to Watch

• Pace of station deployments toward the 75-station target by 2030
• Utilization and demand from professional fleets and light-duty hydrogen vehicles
• Site integration partnerships that support the modular station model
• Further financing rounds as the network scales

HVR Energy sits at the intersection of hydrogen mobility and infrastructure buildout in Spain, a position that makes its deployment progress a key indicator for the segment.