Logan Energy Investment Round Raises £5 Million
Summary
Logan Energy has successfully secured a \xa35 million investment to advance its systems-focused approach in the hydrogen power sector.Headquartered in Edinburgh, with manufacturing facilities in Wallyford and development centers at Heriot-Watt University, the company has secured over 50% of the total investment from the green energy investor Lanxing New Energy, based in Singapore. The remaining portion of the investment comes from Scottish Enterprise.These funds are earmarked for enhancing Logan Energys technological infrastructure and facilities, expanding its workforce, and supporting its global expansion initiatives the company has ongoing projects in the Netherlands, Germany, Northern Ireland, Ireland, Spain, Singapore, and China, Logan Energy has established itself as a key player in the international hydrogen sector.Nearer to home, Logan Energy projects include the installation of a hydrogen electrolyser at Arbikie Distillery in Scotland, near Montrose. This strategic move allows the distillery to partially power its operations with environmentally sustainable green hydrogen, generated using renewable electricity sourced from wind turbines and local water resources.Chief executive Bill Ireland said: We have been working in the hydrogen sector for decades and see the energy market focussing on how hydrogen fits within the increasingly complex energy mix.Over the years, we have delivered to meet the changing demand and developed bespoke solutions which have now become our standard offering.This investment will also allow us to address the supply chain issues the industry is facing by developing key relationships with manufacturers and equipment developers around the globe and ramp-up our research and development capabilities here in the UK.Lanxing New Energy chief executive Yuxuan Zhang said: We are clear that energy systems involving hydrogen have a vital part to play in the transition to a low carbon economy across the world.For us, it has been about finding the best partner to understand the complexities of integrated energy systems and develop advanced hydrogen technologies.Over the coming months we aim to announce several new capabilities for the hydrogen market, as we further develop Logans strategic plan.