LSC leads £2m fuel cell injection

London Seed Capital (LSC) has led a £2m round of funding for fuel cell materials company Bac2, taking a minority stake in the business. LSC contributed £170,000 to the round alongside a record-breaking £1.83m investment from the London Business Angels (LBA) network. The latest financing follows on from a £500,000 seed investment in May 2006, which included contributions from LSC and LBA of £100,000 and £400,000 respectively.

Bac2 has developed a unique conductive polymer, ElectroPhen, designed for use in the bipolar plates needed in fuel cells, which convert hydrogen and oxygen in the air into electricity and heat. The material is made from readily-available, low-cost constituents and, as such, solves the major cost issue that has prevented a major uptake of fuel cell technology. (Page 23).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• UK / Ireland