Logan Energy, a UK-based hydrogen energy company, secured £1m in funding.
Kelvin Capital made the investment via an International collaboration with Henan Lanxing Power Equipment Co Ltd (Lanxing).
The company intends to use the funds to launch the joint venture with the Chinese manufacturer to develop its operations in the Chinese market, to create eight new jobs across the design, production, servicing and business development departments, to develop its product offerings and expand operations on a regional, national and international level.
The joint venture with Lanxing will kick off in 2020 and will see Logan Energy perform similar business functions in China to its current hydrogen tech activities throughout the UK and Europe.
Led by Bill Ireland, CEO, Logan Energy designs, installs, commissions and maintains Energy Centres across the UK and Europe, and has built up a over decade of knowledge in stationary fuel cell and combined heat and power projects. Logan Energy is the parent company to five subsidiaries:
· H2Tec – a wholly owned subsidiary that designs and manufactures several types of specialised products for the hydrogen market
· H2Tec BV – Provides a hydrogen energy systems manufacturing service from its head office in The Netherlands
· EneTec – Offers hydrogen equipment distribution services
· FuelCellUK – A hydrogen vehicle systems supplier
· Proton Power – Deliver hydrogen facility operations and maintenance To date, the company and its five subsidiaries have installed, commissioned and maintained over 1MWe of fuel cells.
To date, Logan Energy and its subsidiaries have installed, commissioned and maintained over 1MWe of fuel cells.