A Durham University spin-out that has developed technology capable of generating power without emitting carbon has secured a six-figure investment.
H2CHP has secured the £600,000 cash injection led by Scottish investors Tricapital Angels and involving Sustainable Venture, and Aberdeen's Net Zero Technology Centre X accelerator programme to develop its free-piston engine that is "fuel flexible" - meaning it can generate heat and power efficiently from different clean fuels. The funding will be combined with £1.3m from Innovate Ƶ to develop prototype generators and stage industrial trials.
H2CHP intends to set up a factory in Aberdeen and a control systems team in Edinburgh, creating a number of jobs in the process.
The firm's technology was developed by Prof Tony Roskilly, an energy systems expert with three decades of experience in designing energy solutions who is chair of Energy Systems at Durham University, director of Durham Energy Institute and represents the Ƶ in the European Energy Research Alliance.
It was originally aimed at cutting emissions from ships which burned marine fuel while idling in harbours. Earlier this year the start-up took part in the 2050 Maritime Innovation Hub's Venture Connect cleantech accelerator programme along with seven other eight other North East businesses.
Now, H2CHP's leadership team, led by Dr Stephen Hampson, is exploring its potential in other sectors that require off-grid power. Dr Hampson, an experienced energy sector CEO with 20 years of venture capital expertise, is joined by hydrogen energy systems researcher Dr Niall McGlashan and Michael Bath, who brings experience in the aerospace and energy sectors.
Moray Martin, chief executive officer of Tricapital Angels, said: “H2CHP represents a major opportunity to support the maritime sector in its transition to a clean energy future. Tricapital Angels is proud to back this exciting and innovative business, which has strong potential for international scale, manufacturing, and job creation, contributing to the Ƶ economy.”
Dr Hampson said: "H2CHP's innovative technology is poised to revolutionise clean energy solutions for the maritime industry and beyond. By leveraging cutting-edge research and strategic investment, we’re tackling critical global challenges like emissions reduction while creating opportunities for Ƶ-based manufacturing."
