Logan secures £1m for joint venture with Chinese partner
Bill Ireland: ‘This demonstrates our standing in the industry’
Clean energy solutions provider, Logan Energy, has secured a £1 million investment to develop its hydrogen technology capabilities in the Chinese market.
The funding from Kelvin Capital via its collaboration with Henan Lanxing Power Equipment Co will see Logan replicate its current hydrogen tech activities in the UK and Europe.
Eight jobs will e created in the design, production, servicing and business development departments.
Last summer, China’s Science and Technology Minister, Wan Gang, called for China to look into developing a “hydrogen society” and the country is now driving hydrogen and fuel cell development.
It sees hydrogen as a way to meet its climate and pollution goals without increased reliance on imported fuels, and hopes that hydrogen will account for 10% of its energy system by 2040.
Bill Ireland, CEO of Logan Energy, said: “This demonstrates our standing in the industry and specifically the need for competent integration specialists in the rapidly expanding global hydrogen market.
“We have grown organically over the past 10 years but this initial investment is crucial to supporting the expansion of Logan Energy to meet the growing demand for our clean energy solutions.”