Tropical S.A. seeking investments to help expand its fuel cells businessMarch 31, 2012
Tropical S.A., a manufacturer of hydrogen fuel cells, has announced its first round of investments this week. The company is seeking investments from the private sector in the hopes of bolstering business. Tropical specializes in making fuel cells for industrial purposes. These stationary fuel cells are garnering a great deal of acclaim in the world of industry for their ability to produce large amounts of energy at low cost, with the exception of the initial purchase, of course.
The funds raised during the round of investments will go toward helping the company expand into foreign markets. The money will also help Tropical develop a new line of hydrogen fuel cells that will be more efficient and affordable. Tropical also has a subsidiary that specializes in making fuel cells for vehicles. Some of the funds raised through investments is expected to be funneled to this branch of the company as a way to better serve the auto industry’s growing need for fuel cells.
In April of this year, Tropical will be unveiling their latest hydrogen fuel cell. The fuel cell is powered by natural gas and is capable of producing more than 5 kilowatts of electricity. Called the GreenGen NG-5, the fuel cell is to be used for industrial ventures and could be very attractive to companies looking to adopt alternative energy and move away from fossil-fuels. The GreenGen fuel cell will be showed off at the Hydrogen + Fuel Cells trade event in Hannover, Germany.