Swedish fuel cell technology supplier Impact Coatings has raised SEK 120m ($14.6m) to fund its global expansion as the company looks to capitalise on the “significant” growth opportunity hydrogen presents.
Raised through a private placement, Impact Coatings said the funds will be invested in its commercial technical and production capabilities, as well as the “company’s internationalisation”.
Impact Coatings said this is “in order to capitalise on significant growth opportunities presented by the migration from fossil-fuel to hydrogen-based energy systems and the advancement of automotive safety and related applications”.
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