ACAL Energy Hoping to Raise £15 million in First Half of the Year

21 Feb 2013

ACAL Energy Commissions Innovative Fuel Cell System

ACAL Energy is expecting to raise £15 million by the end of the first half of 2013 to respond to rising demand for clean power from industry, Bloomberg is reporting. ACAL Energy, whose low-platinum FlowCath fuel cell system is well-suited to industrial applications, installed a 3 kW system at Solvay Interox’s Warrington, UK site in February 2012 to provide 24-hour backup to a pump.

Speaking to Bloomberg, ACAL Energy’s managing director Brendan Bilton said, “We have received a high level of interest from venture- capital companies, family offices and corporate venturers and geographically the spread is from Asia, Europe and North America.” “The money will be spent on expanding the technical team, research and development, intellectual- property protection and capital expenditures,” he added.

ACAL Energy, who is based in Runcorn in northern England, has developed chemicals that allow for the removal of platinum from the cathode, exemplified in its FlowCath system. It plans to remain a chemicals company and license its fuel cell design to manufacturers.

 

Reference: Bloomberg


Industry Directory: ACAL Energy

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