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The Low Carbon Economy Ltd

18 Dec 2007 03:12:32

Fresh boost for 'thriving' UK fuel cell industry

Fresh boost for 'thriving' UK fuel cell industry
The UK's growing fuel cell industry has been boosted by news that two more companies are set to receive funding to support their development of the energy source.

Ilika Technologies and Ceres Power will each receive grants in excess of £100,000 each from the Carbon Trust as they look to develop fuel cell technology.

Announcing the awards today (December 18th), the trust claimed they represented fresh proof that significant advances are being made towards the use of fuel cells as a commercial energy source.

Garry Staunton, technology director at the Carbon Trust, said: "Fuel cells have the potential to play a significant role in a low carbon economy since they can be used in applications as diverse as powering a laptop or a car."

"The UK fuel cell sector is thriving and we are very pleased to have played a part in its development," he added. "By continuing to fund companies, such as Ilika Technologies and Ceres Power, we can further strengthen the UK's position in this dynamic market."

According to the Carbon Trust there are now five fuel cell-related companies listed on the Alternative Investment Market, with a combined market capitalisation in excess of £300 million.ADNFCR-1235-ID-18399029-ADNFCR

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