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11 September 2008
Biohydrogen benefits from Fusion backing
Source: Yorkshire Post, 10 September 2008
Fusion IP, the Sheffield company that turns academic research into business, has invested £170,000 in a University of Sheffield spin-out firm which makes hydrogen from food.
Biohydrogen Ltd is developing a "revolutionary" method of producing commercial levels of hydrogen from sugar-based food, such as glycerol, glucose and cellulose. The firm, which was spun out of the University of Sheffield, uses genetically modified bacteria to produce hydrogen. Fusion said its 60 per cent holding in the firm will remain unchanged.
Biohydrogen has also received a £75,000 research and development grant from Yorkshire Forward. Fusion IP chief executive David Baynes said: "Biohydrogen has made significant progress with its platform technology since we first invested in the company last year.
"There is currently huge interest in all forms of renewable energy due to the need to reduce the factors that accelerate global warming, the dramatic long term rise in the cost of fossil fuels and the ever increasing need for energy security.
"Also governments continue to offer significant funding initiatives for the development of 'clean' energy technologies and we believe that Biohydrogen has an exciting future ahead of it."
In July Fusion said it was changing its name from Biofusion.
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