Bac2 sends angels to new heights

Fuel cell materials company Bac2 has raised £2m enabling the business to commercialise its ground breaking technology.

The London Business Angels (LBA) has backed Bac2’s conductive polymer ‘ElectroPhen’ material – a plastic which can conduct electricity but which is far more malleable than metal.

The material is key to the uptake of fuel cell technology and will propel its commercialisation, the company says.

Investors appear to agree as prior to this investment the company received £500,000 from London Seed Capital and the LBA in May 2006, as well as a £250,000 grant from the Department of Trade and Industry (DTI).

The latest investment is the largest ever angel funding in the 25 year history of the London network.

Bac2’s CEO, Mike Stannard, said: “The fact that we have been able to secure so much investment, primarily from private individuals, demonstrates the progress we have made since the company was set up in 2005.

“We now understand how the unique properties of ElectroPhen can be most effectively commercialised, initially in the fuel cell markets and in other electrical and electronics applications.”

Jason Ball, of London Seed Capital, added: “Clean technology is one of the most exciting opportunities for investors today.

“Bac2 has turned its vision of ElectroPhen as a fuel cell material into reality and is already sampling bipolar plates around the world.

“What’s particularly exciting is that this material has the potential to make a real difference to the speed at which clean technologies are adopted.”

Bac2 is planning to announce its first standard product shortly and is planning a number of new opportunities for ElectroPhen, including its use in plastic/printed electronic components and circuits.