Generics Group has spun out CMR Fuel Cells with venture funding
from energy technology specialists Conduit Ventures and Carbon
Trust Investments.
Cambridge-based CMR has invented a fuel cell that uses mixed
reactants. It aims to concentrate on the central cell component,
the 'stack', for applications including battery chargers, auxiliary
power units, laptops, power tools, robotic devices and portable
military applications.
The firm is at an early stage, earlier than normal for venture
capital. We are doing fundamental research at the moment, early
stage R&D, company chief engineer Michael Evans told
Electronics Weekly.
The venture capitalist have taken a punt on this. Carbon Trust
really went quite a long way to help us on this one, he said.
The firm's founders are Michael Priestnall, previously head of
fuel cell consulting at Generics, and Evans who was previously a
principal researcher at the University of Cambridge University.
Together they have 20 years of fuel cell industry experience.