Logan Energy secures £1m from Kelvin Capital to launch a joint venture in China
The investment from Kelvin Capital will support a partnership with Henan Lanxing Power Equipment and fund new jobs.
Logan Energy is a clean energy solutions provider specialising in full service fuel cell and hydrogen technologies. The firm operates across the UK and Europe, and is expanding its activities into the Chinese market.
Logan Energy has secured £1m in funding from Kelvin Capital, facilitated by an international collaboration with Henan Lanxing Power Equipment. The investment will support the launch of a joint venture with Lanxing in 2020, enabling the clean energy specialist to bring its hydrogen technology expertise to China.
In addition to the Chinese expansion, the capital injection will fund the creation of eight new roles spanning design, production, servicing, and business development. The move comes as China drives the development of hydrogen and fuel cells to meet national climate and pollution targets.
Chief executive Bill Ireland noted that the funding marks an important milestone following ten years of organic growth. Kelvin Capital highlighted the transaction as part of its expanding international investor base.
From the founder
"We are absolutely delighted that Lanxing have invested in Logan Energy. This demonstrates our standing in the industry and specifically the need for competent integration specialists in the rapidly expanding global hydrogen market."
Bill Ireland
CEO at Logan Energy
Investor perspective
"Renewable energy is at the forefront globally and Kelvin Capital are delighted to have been able to support this fantastic opportunity for Logan Energy, an established company who offer full service fuel cell and hydrogen technologies."
John McNicol
Kelvin Capital
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Categories
About the company
Logan Energy
Logan Energy provides hydrogen technology solutions and clean energy systems.