Investment
The quoted university technology commercialisation specialist Fusion IP plc has invested £170,000 in Biohydrogen Ltd, a spin-out company from Sheffield University, which is developing a method of producing commercial levels of hydrogen from sugar-based food sources, such as glycerol, glucose and cellulose, using genetically modified bacteria. Biohydrogen also received a £75,000 R&D grant from the regional inward investment body Yorkshire Forward.
David Baynes, CEO of Fusion IP, said, “Biohydrogen has made significant progress with its platform technology since we first invested in the company last year. There is currently huge interest in all forms of renewable energy due to the need to reduce the factors that accelerate global warming, the dramatic long term rise in the cost of fossil fuels and the ever increasing need for energy security. Also governments continue to offer significant funding initiatives for the development of clean energy technologies.”
The quoted university technology commercialisation specialist Fusion IP plc has invested £170,000 in Biohydrogen Ltd, a spin-out company from Sheffield University, which is developing a method of producing commercial levels of hydrogen from sugar-based food sources, such as glycerol, glucose and cellulose, using genetically modified bacteria. Biohydrogen also received a £75,000 R&D grant from the regional inward investment body Yorkshire Forward.
David Baynes, CEO of Fusion IP, said, “Biohydrogen has made significant progress with its platform technology since we first invested in the company last year. There is currently huge interest in all forms of renewable energy due to the need to reduce the factors that accelerate global warming, the dramatic long term rise in the cost of fossil fuels and the ever increasing need for energy security. Also governments continue to offer significant funding initiatives for the development of clean energy technologies.”
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