HPS offers customized financing package with Santander for the picea year-round electricity storage system

• Loan financing with attractive interest rate.
• Term of up to ten years with flexible repayment options.
• Unscheduled repayments can be made in any amount.

HPS Home Power Solutions AG, the world’s leading provider of green hydrogen-based year-round electricity storage for buildings, is offering an attractive credit financing for picea through its strategic coorperation partner Santander from 1 March 2023. The new financing model for the purchase of a picea with a term of up to ten years will be realized via Santander Germany. This opens up the market for the world’s first and mass-produced year-round electricity storage system for buildings based on green hydrogen to additional customer groups.

"With Santander Germany, a customized offer for the financing of picea systems was developed. This allows interested parties to make the energy transition in their own homes with picea and to decouple themselves from rising electricity costs. We are working intensively to lower the investment threshold. This is an important strategic milestone in achieving our goal of significantly reducing fossil energy consumption in the building sector while at the same time achieving independence and security of supply for our customers. Furthermore, Santander is represented throughout Europe with branches and is thus also a sustainable growth partner for the future," says Zeyad Abul-Ella, founder and CEO of HPS.

Jewgeni Elster, CFO of HPS adds: “With the new financing offer, we are intensifying our cooperation with Santander. Up to now, Santander has been an important partner for us in corporate financing. Now, with end-customer financing within the partnership, we are offering our customers a completely new solution. The installment loan is not only a door opener for many people to take the step into independent and CO2-free energy supply with picea. I am particularly pleased about the efficient and digital processing for our customers, easily accessible via our website.”

The new financing package initially applies exclusively to customers who order their picea system directly from HPS. The interest rate for financing is currently 5.9 percent. In addition, unscheduled repayments of any amount can be made at any time, opening up the greatest possible flexibility.

"Climate change is one of the largest and most pressing challenges of our time. In this context, the energy transition is taking on a key role and the expansion of renewable energies is already progressing worldwide. However, we must also look for solutions to use the green electricity generated even more effectively – for example, with energy storage systems. picea can contribute relevantly in this regard. By partnering with HPS, we can support this transition with with our broad range of financing solutions for end customers," says Tobias Niederau, Head of Consumer Financial Service at Santander Germany.

In addition to the new installment loan offer, interested customers can use a number of regional subsidy programs. In addition, the year-round electricity storage system can be purchased without paying sales taxes as of 1 January 2023. With the new financing package, HPS is responding to the continued strong increase in interest.

About Santander Germany

Santander Germany is one of the top 5 private banks in Germany based on customer numbers. It offers private and corporate customers financial services through various channels. Whether online, via video advice or in person at the branch – Santander’s services and products cover a wide spectrum from current accounts and credit cards to mortgages and investments. In Germany, the bank is the largest non-captive financier of mobility and also leading in consumer goods. The fully owned subsidiary of the Spanish Banco Santander is headquartered in Mönchengladbach.

For more information, visit www.santander.de