Acal Energy May Receive U.K. Government Backing for Fuel Cells, FT Says
Acal Energy Ltd., a small company that’s developed technology to cut the cost of hydrogen-powered cars, will receive a 1 million-pound ($1.6 million) investment from the Carbon Trust, a U.K. government agency that promotes carbon reduction, the Financial Times reported.
Acal is working with Solvay SA, a Belgian chemical company, and a Japanese car company that hasn’t so far been identified, and aims to produce a commercial car engine by 2015, the newspaper said.
The technology cuts the cost of fuel cells, which convert stored hydrogen into electricity and water, by 40 percent, using an alternative to platinum as a catalyst, the FT said.
To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.
To contact the editor responsible for this story Colin Keatinge in London at ckeatinge@bloomberg.net.
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