Cold fusion developer ENG8 in £3m raise to fast track energy breakthrough

Cleantech company ENG8 International has launched a £3 million fundraising round to accelerate its EnergiCell technology that's developing a greener, cheaper way to generate power. The EU-based company is targeting delivery of its first energy sales in Portugal within the next 12 months. A UK rollout of its catalysed fusion innovation - a scalable solution for UK energy independence - will then follow. Amid the drive to net zero rising energy costs are increasing economic pressures on British households and businesses. ENG8 is part of the Low Energy Nuclear Reaction (LENR) technologies sector that has been under development for decades with the promise of a commercial solution. Some international laboratories are showing LENR tech to work with viable cost benefits The International Society for Condensed Matter Nuclear Science (ISCMNS), under joint UK and USA leadership, was formed more than 20 years ago to unite scientists and engineers worldwide in advancing LENR research that's also called cold fusion or catalysed fusion. Now more than 10 companies are working on commercial LENR solutions and numerous universities are engaged in public and government funded LENR research. The EU's Clean HME program has shown that LENR reactions release over ten times more energy than chemical reactions. A NASA report showed LENR processes can release similar amounts of energy to conventional atom-splitting fission and atom-combining fusion reactions per amount of material used. LENR doesn't use or produce radioactive materials with minimal amounts of fuel involved often water or hydrogen from water.

Founded in 2017 by two British entrepreneurs, ENG8 is developing its new EnergiCell technology with systems ranging from one-watt to 100 kilowatts and in future megawatts. The stand-alone thermal and electrical power generators that are being developed contain EnergiCells able to operate on minimal inputs including water. Designed to produce heat, electricity, or hydrogen without any emissions or radioactive waste, the tech will enable existing generators, vehicles and vessels to be repowered using onboard clean hydrogen gas produced by EnergiCells.

NG8 has secured £10 million in funding to date, including £3 million via 350PPM, a leading cleantech incubator specialising in breakthrough energy technologies. This investment enabled ENG8 to independently validate its technology. Backing from 350 PPM brought together over 50 British investors. Company chief executive Valeria Tyutina said: "The EnergiCell represents our answer to the energy trilemma of security, affordability, and sustainability. British households and businesses will achieve true energy independence within the decade with significant cost reductions. ENG8's energy generating costs are estimated to be less than half that of wind, solar, oil, or gas." Visit www.eng8.energy, or contact investors@eng8.energy