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In 2008 Scottish and Southern Energy plc ('SSE') acquired a 21% stake in Logan Energy Limited.
This investment was matched by a 15% co-venturing investment from Scottish Enterprise - the first such investment by Scottish Enterprise's Scottish Co-investment Fund.
Logan Energy Corp. is an established fuel cell installation and maintenance company having installed more than 130 fuel cells in 75 locations.
Logan Energy Limited was established to develop Logan's market in Europe, the Middle East and Africa.
Current contracts won include the supply of a 200Kw fuel cell into Transport for London's offices at Palestra. SSE has also awarded Logan Energy Limited the contract to install a 200Kw fuel cell powered CCHP (tri-generation) facility at its new Southern Electric operations centre in Havant.
David Gardner, Head of Ventures at SSE, said: 'Logan Energy has a strong track record in installing and maintaining fuel cell CHP plants that it is now bringing to the UK. This deal provides SSE with an experienced partner in the fuel cell installation market and is an important part of our strategy to develop a portfolio of clean energy businesses.
'SSE recognises the importance of the fuel cell market in the UK which is why it recently invested in Intelligent Energy, a fuel cell development company, and this new investment in Logan Energy Limited complements this investment very effectively.' |