HyWaves

What HyWaves does

HyWaves (legal entity Hydrogen Waves Ltd) is a UK-based clean technology company founded in 2022 that has developed the H2Top Power Management and Control Architecture, a proprietary direct DC-based power management system designed to connect electrolysers to solar PV arrays without traditional power electronics such as inverters, rectifiers, or DC-DC converters. The company operates two pilot plants — a 50kW flagship site at Cranfield University (Bedfordshire) and a 38kW site at the University of South Wales — where the technology has been validated at TRL 6+/7 against PEM and Alkaline electrolysers. HyWaves is compatible with all major electrolyser types (PEM, Alkaline, AEM) and reports performance gains of 3-4% higher electrical efficiency and up to 20% lower Levelized Cost of Hydrogen (LCOH) compared with conventional DC/DC-based architectures.

The business operates three revenue streams: licensing the H2Top architecture to electrolyser manufacturers and system integrators, selling integrated power management systems for commercial hydrogen production facilities, and providing engineering services for pilot plant validation and commercial deployment. Go-to-market combines direct enterprise sales to industrial hydrogen producers and government entities (with site visits and demonstrations) and a partnership-led channel through technology integrators such as ZTT (Alkaline electrolysers), HiPower (PEM electrolysers), and Lightsource BP (solar arrays). Pricing is not publicly disclosed.

The company serves industrial hydrogen producers, renewable energy developers in high-irradiance regions, and remote/off-grid applications, with a strategic emphasis on Middle East (Oman), UK, Taiwan, and Indonesia markets. Funding to date comprises Innovate UK grants (over £600k remaining across five awards), prior equity rounds through SFC Capital and the TechX Accelerator, EDP Innovation's strategic funding, and a seed round launched in July 2025 targeting £2.2 million to scale toward commercial demonstration. HyWaves is led by co-founders Dr. Thomas Delaney (CEO), Ugo Manfredi (CTO), and Niall Haughian (CFO), with NED Troy Stewart (former senior ABB executive, now at TÜV Rheinland).

Name

HyWaves

Legal name

Hydrogen Waves Ltd

Website

https://hywaves.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

HyWaves is a UK clean-tech company that has developed the H2Top Power Management and Control Architecture, enabling electrolysers to connect directly to solar PV without conventional power electronics. It serves industrial hydrogen producers and renewable energy developers in the UK, Middle East, and Asia.

Ownership category

akta.pro rank

Product category

Green Hydrogen Power Systems

NAICS

Relay and Industrial Control Manufacturing (335314), Solar Electric Power Generation (221114)

akta.pro primary industry

Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)

akta.pro secondary industry

Solar Inverters, Power Electronics & MLPE (String/Central Inverters, Optimizers, Microinverters) (EUAMABAE)

Keywords

• Green hydrogen technology
• Power management systems
• Electrolysis power electronics
• Renewable hydrogen production
• Solar-to-hydrogen integration

Headquarters

HQ city

Cranfield

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Technology Licensing: Licensing of H2Top Power Management and Control Architecture to electrolyser manufacturers, hydrogen producers, and industrial companies deploying solar-to-hydrogen systems.
2. System Sales and Integration: Sale of HyWaves power management systems integrated with electrolysers for commercial hydrogen production facilities.
3. Engineering Services: Technical consulting and system integration services for commercial deployment, including demonstration projects and pilot plant validation.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

HyWaves develops and sells the H2Top Power Management and Control Architecture, a proprietary direct DC power management system that connects electrolysers directly to solar PV arrays without conventional power electronics (inverters, rectifiers, or DC-DC converters). The company offers the system as an integrated power management hardware platform for green hydrogen production facilities, supplemented by engineering services and technology licensing to electrolyser manufacturers and hydrogen project developers across the UK, Middle East, and East Asia.

Product overview

HyWaves offers a single unified product architecture: the H2Top Power Management and Control Architecture, which serves as the core platform for connecting electrolysers directly to renewable energy sources without traditional power electronics. The platform is compatible with all electrolyser types (PEM and Alkaline/AEM) and is offered in successive generations (Generation-2 in current use, Generation-3 launching November 2025). Supporting modules include the Battery Integration Architecture for energy storage pairing, all showcased through a Multi-Energy Vector Living Lab that demonstrates integrated hydrogen and EV charging solutions with partner equipment including HiPower PEM electrolysers, ZTT Alkaline electrolysers, and Lotus Flash Charge EV chargers.

Differentiator

Problem solved

Functional benefit

Products and services

• H2Top Power Management and Control Architecture Proprietary power management and control system that connects electrolysers directly to renewable power sources (solar PV) without traditional power electronics (inverters, rectifiers, DC/DC converters). Enables variable DC input and significantly reduces the Levelized Cost of Hydrogen (LCOH) for green hydrogen production. Sold to industrial hydrogen producers, hydrogen project developers, and electrolyser manufacturers, with licensing available for OEM integration.
• HyWaves Generation-3 System Third-generation version of the H2Top system featuring solar pyranometer-enabled rapid tracking response, designed to increase average hydrogen production by up to 2-3% under variable weather conditions. Intended for integration with PEM, Alkaline, and AEM electrolysers at commercial hydrogen production facilities.
• HyWaves Battery Integration Architecture Architecture in development for lowering the cost of energy storage systems paired with renewable energy, designed to integrate with the H2Top platform and to be deployed at the University of South Wales pilot plant. Phase II launched with expected patent submission in Summer 2025.
• Engineering and System Integration Services Technical consulting and system integration services supporting commercial deployment of HyWaves technology, including pilot plant design, demonstration projects, A/B trials with electrolyser partners (HiPower PEM, ZTT Alkaline), and on-site engineering support for industrial and government customers.
• H2Top Technology Licensing Licensing of the H2Top Power Management and Control Architecture (protected by UK patent GB2627434) to electrolyser manufacturers, hydrogen producers, and industrial companies deploying solar-to-hydrogen systems, enabling OEM-style integration into commercial hydrogen products and facilities.

Quantifiable outcome

• 80% reduction in power electronics costs for 100MW hydrogen plant, delivering CAPEX savings of $15+ million vs conventional systems
• +7 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• ZTT (ZTTCE Hydrogen)coreStrategic or Co-development Partner · 1 March 2025MOU signed March 2025 with ZTTCE Hydrogen for deployment of first ZTTCE electrolyser in the UK integrated with HyWaves H2Top architecture. Alkaline electrolyser for comparative testing at Cranfield. Commitment to co-develop hydrogen sites.
• Net Zero Technology CentrecoreStrategic or Co-development PartnerPartnership through TechX accelerator programme supporting development of clean hydrogen technology and commercial readiness.
• Lightsource BPcoreStrategic or Co-development PartnerSupplied 5B Maverick Solar Arrays at both UK pilot sites (Cranfield and South Wales). Provided Letter of Support for solar supply. Strategic partnership for renewable energy integration.
• HiPowercoreTechnology or IntegrationProvided PEM electrolyser for A/B trials at Cranfield site. Ongoing partnership for 100kW PEM hydrogen system in Taiwan powered by HyWaves.
• Cranfield UniversitycoreStrategic or Co-development PartnerHome to HyWaves headquarters and flagship 50kW pilot plant. Partnership through Green Future Investments Technology Accelerator Fund. Academic collaboration including hydrogen safety courses.
• University of South WalescoreStrategic or Co-development PartnerPartnership for second pilot plant at USW hydrogen R&D centre. Home to HyWaves solar-to-battery technology development. Located in South Wales Hydrogen Cluster.
• Power to Hydrogen (US)minorStrategic or Co-development PartnerAgreed to submit major EU/UK funded project application with HyWaves.
• Troy StewartcoreOthersAppointed as Non-Executive Director. Former senior positions at ABB. Current Global Director Innovation and Business Transformation at TÜV Rheinland.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ITM Power: UK-based PEM electrolyser manufacturer and a global reference player in green hydrogen production. Directly comparable as both target industrial-scale green hydrogen, share UK ecosystem (including Innovate UK relationships), and compete for the same project pipeline HyWaves enables through its control systems.
• Enapter: Manufacturer of AEM electrolysers with a focus on modular, small-to-medium scale hydrogen production units. Comparable in pushing cost-effective, simplified hydrogen system architectures, and targets similar use cases including integration with variable renewables.
• Power to Hydrogen: US-based technology developer focused on improving efficiency and cost of hydrogen production equipment, and an existing collaborator with HyWaves on EU/UK funding applications. Comparable as a peer pursuing better economics in electrochemical hydrogen production systems.

Broad incumbents

• Nel ASA: Global leader in alkaline and PEM electrolyser technology with commercial-scale deployments. Comparable as a supplier to the industrial green hydrogen projects HyWaves' customers are building, and represents the type of OEM HyWaves would partner with or compete against for direct solar integration.
• Thyssenkrupp nucera: Major electrolyser manufacturer with large-scale alkaline and PEM products, including proprietary hydrogen production solutions. Comparable as a competitor supplying equipment to the same large-scale solar-to-hydrogen projects HyWaves targets with its power management architecture.
• Cummins (Accelera by Cummins): Cummins' Accelera hydrogen business manufactures PEM electrolysers and fuel cell systems for industrial and mobility applications. Comparable as a large incumbent addressing similar green hydrogen production economics, and a potential integration or competitive threat to HyWaves' power management approach.
• Schneider Electric: Global energy management and automation company with growing hydrogen and renewable integration offerings. HyWaves has engaged Schneider; comparable as a potential strategic partner and a large incumbent that could integrate competing direct-DC solar-to-hydrogen solutions.

Emerging players

• SunGreenH2: Early-stage company developing high-efficiency electrolyser technology targeting green hydrogen cost reduction. Comparable as a technology challenger focused on improving the electrolyser/power-electronics interface within solar-to-hydrogen systems.

Others

• SMA Solar Technology: Global leader in solar inverters and power conversion for renewable systems. Comparable as the type of incumbent whose product stack HyWaves is partially displacing in solar-to-hydrogen applications; a potential competitor developing similar direct-DC solutions.
• Sungrow: Major supplier of solar inverters and power conversion equipment including hydrogen-dedicated products. HyWaves has engaged Sungrow as a stakeholder; comparable as both a potential customer/integration partner and competitive incumbent in renewable-to-hydrogen power electronics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@HydrogenWaves
• LinkedInlinkedin.com/company/hywaves

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HyWaves