US-based fuel cell and hydrogen provider Logan Energy’s British subsidiary has undergone a share restructuring and become independent.
The restructuring will allow the UK company to obtain second-round financing from five shareholders: UK-based utility Scottish & Southern Energy’s SSE Ventures corporate venturing unit that itself spun off to be managed by a separate firm earlier this year; Scottish Enterprise’s Scottish Investment Bank; US-based Logan Energy; and UK-based Logan Energy Ltd’s two working directors, John Lidderdale and Bill Ireland.
The existing shareholders were SSE Ventures, Scottish Enterprise and Logan Energy.
Logan Energy has been installing fuel cells since 1995 in the UK to provide electricity generation, combined heat and power (CHP) and combined cooling heat and power (CCHP).