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Infinite Power seeks to raise funds for UK power cell plant

Fri, 25th Sep 2020 07:52

LONDON, Sept 25 (Reuters) - Infinite Power is seeking to
raise 25 million pounds ($32 million) to construct its first
production facility in Britain to make power cells to provide
clean energy to industry.

The company has developed power cells which operate in a
similar way to how solar cells capture the sun’s energy and
convert it into electricity.

Instead of converting the suns rays, Infinite Power's cells
converts the radiation wave emitted from a radioisotope, which
is an atom that has excess nuclear energy, into electricity.

The technology was developed at a research and development
facility in Cumbria. The firm said there is no nuclear waste -
the isotope decays into a stable material that can be sold,
reused, or disposed of.

The company aims to develop a 10 megawatt (MW) plant powered
by the cells which could provide energy to small communities or
industrial estates and then ramp up to large plants over 1
gigawatts.

"We’re talking to investors both here in the UK and in the
US. Interest is strong and we’re now looking to secure a site to
build our (first) plant," chief executive Robert McLeod told
Reuters.

($1 = 0.7842 pounds)
(Reporting by Nina Chestney. Editing by Jane Merriman)

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