ACAL Energy Raises Further Funds towards Commercialisation of its Fuel Cell Technology

04 Sep 2012

ACAL EnergyACAL Energy has secured another round of investment finance, allowing it to further advance research and development of its fuel cell systems.

The latest funding round of £3.25 million has been raised from existing investors including clean technology asset management group I2BF, the North West Fund for Energy and Environmental (NWF4E&E) and the PFCC2 –  both managed by CT Investment Partners (CTIP) – and SC Green Tech Ventures LLC (the investment arm of Sumitomo Corporation). Additional contributions were made by smaller investors and by the company’s management.

ACAL Energy has previously announced that it is targeting its FlowCath® power modules for commercial scale stationary power and automotive applications (FlowCath® technology uses a proprietary, platinum-free liquid catalyst in the cathode). The company says its rate of technical progress has been rapid.

Last year, ACAL Energy won The Carbon Trust ‘Polymer Fuel Cell Challenge’, an initiative aimed at accelerating access to new markets for fuel cell products. As part of the funding announced today, ACAL Energy has been successful in receiving follow-on funding under this programme (PFCC2), which it hopes will enable FlowCath® technology to feature more prominently in its commercialisation plans.

Reference:  ACAL Energy

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