Logan Energy secures £1m funding from Kelvin Capital

Clean energy solutions provider Logan Energy has secured £1 million investment from Kelvin Capital via its international collaboration with Henan Lanxing Power Equipment Co Ltd (Lanxing) to build on its hydrogen technology capabilities and develop operations in the Chinese market.

Logan Energy secures £1m funding from Kelvin Capital

Bill Ireland, CEO of Logan Energy

Logan Energy designs, installs, commissions and maintains energy centres across the UK and Europe, and has built up over a decade of knowledge in stationary fuel cell and combined heat and power projects.

This joint venture with Lanxing will kick off in 2020 and will see Logan Energy perform similar business functions in China to its current hydrogen tech activities throughout the UK and Europe.

Lanxing has invested in Logan Energy’s integration expertise to develop the hydrogen market in China because there is currently no other hydrogen tech specialist like Logan Energy in the country or surrounding territories.

As well as supporting this new joint venture, the cash injection will be used to create eight new jobs across the design, production, servicing and business development departments.

Bill Ireland, CEO of Logan Energy, said: “We are absolutely delighted that Lanxing has invested in Logan Energy. This demonstrates our standing in the industry and specifically the need for competent integration specialists in the rapidly expanding global hydrogen market.”

John McNicol, investment director of Kelvin Capital, said: “Renewable energy is at the forefront globally and Kelvin Capital is delighted to have been able to support this fantastic opportunity for Logan Energy, an established company who offer full-service fuel cell and hydrogen technologies.

“It perfectly demonstrates the growing international investor base of Kelvin Capital in what has been a record year of investment. We will look forward to supporting Logan’s ambitious plans and introducing them to our extensive network of contacts in the UK and China to maximise the great potential that they have in this marketplace.”

Looking to the next 12-months, Logan Energy will be focusing on reinforcing its core team, as well as continuing to develop its product offerings and expanding its operations on a regional, national and international level.

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