An Israeli hydrogen fuel cell producer has raised $2.2 million from a local cleantech investment fund say local reports.
Investors BHCO confirmed the report of its stake in Engineuity Research and Development Ltd. but declined to comment on its size. Engineuity's technology uses a light metal wire (such as aluminum or magnesium), water and a special conversion unit, to produce a continuous flow of hydrogen and steam under full pressure, temperature and power control.
The hydrogen and steam produced powers a modified internal combustion engine. The production unit can also be used for producing hydrogen for fuel cells and other applications requiring hydrogen and/or steam.
The company claims that its technology overcomes obstacles presently associated with hydrogen. They say safety, fuel distribution and storage concerns are all irrelevant to the unit, as hydrogen is produced onboard as it is consumed.