UK-based hydrogen powertrain solution firm Viritech has kicked off a new £5m ($6.1m) funding programme and appointed a new CEO and strategic advisor as it looks to move from R&D to revenue generation.
Expected to initially take place on the Seedrs Crowdfunding platform, the funding programme is hoped to raise £5m from venture capitalists, family offices and strategic investors, adding to a previous raise of £6m ($7.4m) of equity capital and £2.8m ($3.4m) in grants.
The additional capital is intended to drive forward the company in moving from R&D of its hydrogen energy management and storage technologies to commercialisation and revenue generation.
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