A HYDROGEN fuel cell research and development firm in Runcorn has received more investment.
Acal Energy said its latest round of attempts to find finance secured £3.25m.
Cash came from existing investors such as clean technology asset management group I2BF, the North West Fund For Energy And Environmental (NWF4E&E) and the PFCC2.
Both groups are 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’s FlowCath®technology uses a liquid catalyst to slash the amount of platinum used in conventional fuel cells.
The company has reaped millions in investment after it displayed a radical improvement in the reliability and cost effectiveness of its fuel cells.
Last year, Acal won The Carbon Trust ‘Polymer Fuel Cell Challenge’, an initiative aimed at accelerating access to markets for fuel cell products.
As part of the latest funding, the firm has added follow-on funding under the PFCC2 programme.
Acal said this will enable FlowCath technology to be delivered earlier and to feature more prominently in the company’s commercialisation plans.
Brendan Bilton, Acal managing director, said: “We are especially pleased to have the confidence of our current investors who have been most supportive of our operations to date.
“Our rapid rate of technical progress puts us in a good position as we proceed with our commercialisation plans.”
Acal is based at the Heath Business And Technical Park in Runcorn.
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