ACAL Energy Completes £3.5M Funding Round; Boost to FlowCath Development
19 May 2010
UK-based ACAL Energy, the developer of a liquid, platinum-free cathode system for hydrogen fuel cells (earlier post), has completed a funding round worth £3.5 million (US $5 million) that will provide a boost to the development of its core FlowCath technology. The funding has been raised from existing investors, led by Carbon Trust Investments and supported by Solvay SA, Porton Capital and a “leading Japanese automotive corporation”.
The funds will be used to complete development of ACAL Energy’s ground breaking FlowCath platinum-free cathode technology and introduce first commercial offerings. An OEM evaluation kit is planned for availability later this year and a first Fuel Cell Engine product incorporating FlowCath will be sampled to prospective customers in 2011.
ACAL Energy believes its FlowCath technology is ready for application in small and medium sized stationary power applications, replacing diesel generators in back-up power systems, combined heat and power (CHP) installations and remote power uses. Larger-scale stationary power and transport applications are planned for the future.
Over the last year, ACAL Energy has achieved several milestones, including achieving a peak power density of nearly 800mW/cm2, the development of new, potentially higher performance chemical systems, and the scale up from a 50W integrated system to a 1.5kW laboratory demonstration system. In March, a model hydrogen fuel cell system was launched at Japan’s FC EXPO.
"The funding has been raised from existing investors"
I would rather see this kind of investment than money managers chasing Greek treasury bond yields. This can provide a real product with real utility and a stable future for all.
Posted by: SJC | 19 May 2010 at 08:11 AM