RISINGSTARS GROWTH FUND II INVESTS IN INTEGRATED HYDROGEN SOLUTIONS LIMITED
18 December 2006
RisingStars Growth Fund II, the early stage technology fund managed by Enterprise Ventures, is delighted to announce that it has made its third investment, into Integrated Hydrogen Solutions Limited.
Cheshire-based IHS Limited was formed in 2006 by C-Tech Innovation to develop novel hydrogen storage technologies. To fully exploit the advantages of new fuel cell technologies will require the development of practical hydrogen storage processes, operating within stringent performance, volume and weight specifications. IHS is focussed on developing a solution to overcome current challenges in this area.
Mark Wyatt, Investment Manager at EV, said, "IHS has teh potential to create a breakthrough, by combining a number of existing technologies and applying them in an innovative manner, to enable significantly enhanced hydrogen production, storage and release. This is an exciting opportunity, and I am looking forward to working with the team as the business develops".
Dr Ruth Wroe, Director of IHS, commented,"It is so unusual to find such significant support, both financial and expertise, at an early stage for proof of concept generation, and this support from EV is proving invaluable in progressing towards a viable solution".
Ged Barlow, Managing Director of C-Tech Innovation, commented, "Dealing with the RisingStars Growth Fund investment team at EV was incredibly straightforward, with valuable assistance provided at each stage of the negotiations. This is a logical step forward for our developments in the hydrogen-based economy".
RisingStars Growth Fund II, the follow-on fund to Enterprise Ventures' successful RisingStars Growth Fund, will invest in early stage and proof of concept technology opportunities located throughout the North of England.