Fuel cell materials company Bac2 Ltd. (Southampton, England) has raised £2 million (about $4 million) from London Seed Capital and a group called London Business Angels.
The money is earmarked for commercialisation of the company’s ElectroPhen conductive polymer. The material could be used in fuel cells, Bac2 said.
The investment follows on from £500,000 seed investment in May 2006 and an earlier £250,000 Department of Trade and Industry (DTI) grant.
“Clean technology is one of the most exciting opportunities for investors today. Bac2 has turned its vision of ElectroPhen as a fuel cell material into reality and is already sampling bipolar plates around the world,” said Jason Ball of London Seed Capital.
Bac2 is planning to also use ElectroPhen material in plastic/printed electronic components and circuits.
