French fuel cell firm secures fresh funding

Pragma Industries has raised nearly €412,000 (£354,000) in venture capital funding to finance the final development phase of its commercial hydrogen fuel cell technology.

The aim of the company, which was set up in 2004 by aerospace engineer Pierre Forte, is to launch polymer electrolyte membrane-based (PEM) fuel cells by 2011, capable of generating between 100W and 10KW of power.

PEM cells combine hydrogen-based fuel with oxygen to generate electricity and are most commonly used as the basis for hybrid and electric vehicle batteries.

The Bidart, France-based company already sells single fuel cells, cell-compression units and hydrogen storage devices to research and educational establishments. It received its funding from Finaqui, a venture capitalist firm in Bordeaux, Oseo Capital in Maisons-Alfort and other undisclosed local and regional sources.

But it will not have the European market all to itself if its technology takes off. Mississauga, Ontario-based Hydrogenics has already signed one deal in France and another in Greenland for its hydrogen generation and fuel cell products to be used as both primary and backup power in renewable energy-generation projects.

Meanwhile, UK-based fuel cell specialist Intelligent Energy is also looking to expand its operations into new markets after recently securing $30m in new funding.