I2BF’s investment will be used to strengthen research and development activity in ACAL Energy’s Proton Exchange Membrane Fuel Cells (PEMFCs), and help to deliver increased performance and cost improvements ahead of commercial launch. The Carbon Trust and Solvay SA are also investors in the company. (Earlier post.)

ACAL Energy’s technology can play a significant role in the adoption of fuel cells as a clean and efficient way of generating electricity; this is particularly interesting to global automakers that are developing fuel cell electric vehicles for commercial launch in 2015. In addition we see exceptional growth potential in markets where distributed generation is critical and natural gas is readily available.

—David Waserstein, Partner and Director of Investments at I2BF

When compared with conventional fuel cells based on a platinum catalyst, ACAL Energy’s PEMFC have the potential to reduce platinum content by 90% and to reduce fundamental costs by 40%, at the same time as improving reliability, the company says.