FRI, 27 NOV, 2020-theGBJournal- Blue World Technologies, Denmark based developer and manufacturer of methanol fuel cell components and systems said today, that they have received commitments of more than 3 mEUR from European investors, several of them with a history of investing in fuel cell technology.
The announcement follows the company’s drive to find investors to support their goal of commercialising the methanol fuel cell technology- providing industries around the world with a green alternative to diesel generators and combustion engines.
Blue World Technologies was in the process of closing an investment round that had been on the way for months before the COVID-19 pandemic began spreading.
‘’Terms and conditions were agreed on, but the uncertainties following the pandemic consequently meant that the investment round was not realised at the time,’’ the company said.
‘’Therefore, we are proud to announce that we are currently in the subscription phase with a new group of investors, and in the time of writing, we have received commitments of more than 3 mEUR from European investors, several of them with a history of investing in fuel cell technology. We are also in discussions with other potential investors and are closing the investment round of a maximum of 7 mEUR on 11 December 2020.’’
“Of course it was a setback when our investment round fell through in the spring, but we quickly got back in the saddle and while continuing our development work on our methanol fuel cell technology with great results, we established contact to a strong group of investors that we are now pleased to welcome to the Blue World team,” says Anders Korsgaard, CEO and Co-founder of Blue World Technologies.
Last autumn, Blue World Technologies opened up for an investment opportunity for smaller investors. Back then the opportunity was very much sought after, and more than 30 smaller investors joined, each with a minimum of 13,500 EUR and a total of 1,345 mEUR.
These current investors in Blue World Technologies have taken on the role as ambassadors for the company and are in many ways supporting the company to succeed.
Based on the positive experience, Blue World Technologies has previously had with smaller investors joining, combined with the continuing interest we have experienced concerning investments in Blue World Technologies, it was decided to once again provide smaller investors with the unique opportunity to join Blue World Technologies before the company at a later stage enter an IPO phase. This time it is going to be possible to join as an Entry Investor with a minimum of 15,000 EUR or as an Advanced Investor with an investment of minimum 75,000 EUR.
“Ever since we started Blue World Technologies, we have experienced a great interest in our technology, our contribution to the green transition, and in general in our ambitious approach to the commercialisation of the methanol fuel cell technology. The climate changes are something most can relate to and something many are passionate to defeat, and it is based on this general interest – combined with a good business opportunity of course – that we continuously are receiving investment requests from smaller investors”, says Anders Korsgaard.
In relation to this investment opportunity, Blue World Technologies is inviting interested parties for an online information meeting on 1 December at 8.00 PM CET. Sign up for the meeting or request further information on invest@blue.world.
Blue World Technologies is an advanced developer and manufacturer of methanol fuel cell components and systems as a real green alternative to the combustion engine. Blue World Technologies is founded on extensive experience from the fuel cell industry.
The exclusive fuel for Blue World Technologies fuel cell systems is methanol. A renewable liquid fuel that simple and cost-effective can be stored for years and transported around the world, unlike other alternatives.
Blue World Technologies is focused on the High-Temperature PEM-technology combined with methanol reforming. The combination ensures a simple system design with high conversion efficiency and compliance with automotive design requirements. The end solution is a vehicle with all benefits; long range, fast refuelling, zero harmful emissions, and low fuel cost.
The headquarters of Blue World Technologies is in Aalborg, Denmark which is a stronghold of highly qualified engineering within high-end technologies and has a competent industrial workforce for specialised component manufacturing. Furthermore, Blue World Technologies is planning to set up development and manufacturing activities in key markets to optimise the supply chain and ensure proximity to the customers.
Blue World Technologies is founded by Mads Bang, Anders Korsgaard and Mads Friis Jensen – all executives from the fuel cell industry with extensive experience.
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