The Danish Growth Fund and the German listed engine manufacturer DEUTZ AG have jointly invested EUR 15m (approx. DKK 110m) in the Danish fuel cell developer and manufacturer Blue World Technologies.
Blue World Technologies develops and manufactures methanol fuel cells as a green alternative to traditional combustion engines and generators.
Blue World Technologies is already in the process of establishing a production facility in Aalborg, Denmark, that will secure large-scale production of core components in Denmark. With the new investment, Blue World Technologies will work towards starting serial production to get the company ready to send methanol fuel cells and systems to a variety of industries worldwide, contributing to the reduction of carbon dioxide emission and air pollution.
The Danish Growth Fund’s part of the investment is supported by the European Investment Bank with the backing of the European Union through the European Fund for Strategic Investments (EFSI), whose purpose is to provide venture capital to promising innovation and growth businesses.
Accura advised The Danish Growth Fund and DEUTZ AG in connection with the investment.
Photo: Blue World Technologies