Intelligent Power Generation, a British climate-tech company, raised £2 million in the first close of its Series A funding round.
The round was led by a consortium of experienced angel investors.
A further £1-2.5m will be raised before final close.
The company intends to use the funds for the continued development of its turbine technology designed to accelerate the decarbonization of fuel-based power.
Led by Toby Gill, CEO, IPG is advancing the Flameless Ceramic Turbine, which is designed to deliver pollutant-free power from any fuel, enabling businesses to transition from natural gas sources to alternative fuels
such as hydrogen and biogas. As a 100kW modular generator, operating with efficiencies comparable to centralised power plants, IPG’s technology aims to reduce the environmental impact of fuel-based power, all at a cost competitive with the diesel generator.
The company is working with leading universities, government agencies and pioneering companies to bring distributed fuel-based power to market.