SHOWCASE: Investment Readiness - Bac2 Ltd
Bac2 Ltd - INNOVATORS IN FUEL TECHNOLOGY
MARKET OFFER - Powering The Future
Southampton Enterprise Hub client Bac2 Ltd is developing products in the fuel cell technology market. Bac2’s unique technology promises to reduce production costs significantly and provide a clean solution for future energy needs. Bac2’s first product is ElectroPhen™, a low-cost mouldable plastic material that conducts electricity. From many potential applications the company has chosen to produce Bipolar Plates for fuel cells, providing an efficient and clean power source that will power anything from cars to laptops to houses in the future.
PREPARING FOR THE MARKET
Using the Hub Network of contacts, Bac2 secured seedcorn finance of £500,000 in May 2006 from London Seed Capital, and equity backing through Business Angels. Being involved with the Hub has given Bac2 access to a network of business support providers, and business contacts, that the company is using to develop its business model.
Southampton Enterprise Hub Director, Steve Davis commented, “Bac2 has developed an exciting technology with huge market potential with many possible applications. It is an excellent example of close collaboration between the Hub Network and higher education spin-out services, where the entrepreneur graduates seamlessly through both support services exploiting the expertise that both can offer.”
PROSPECTS - Funding For Product Development
The company is looking for next-round finance in 2007 to fund the commercial expansion of the Bipolar Plate business. Other plans include the development of ElectroPhen™ products for use in EMI shielding, anti-static applications and photovoltaic cells and polymer semi-conductors.
WHO'S WHO
The two Directors are CEO, Mike Stannard and Founder and CTO, Dr Graham Murray. Along with their two Non-Executive Directors James Lewis and Michael Burrows the team offers a comprehensive balance of skills. It has expertise in scaling up novel plastics from laboratory to full scale commercial mass production, the rapid growth and funding of technology start-ups, from spin-out to AIM flotation, and handling start-up technology business in the UK and the USA.
THE MARKET
Forecasts place the fuel cell market at $2.6 billion by 2009 and $25 billion by 2011.
The fuel cell marketplace is set for rapid expansion.
Green energy sources are in high demand.
www.bac2.co.uk
Author: Mike Stannard
Created Date: 26-03-2007
