LONDON (Reuters) - Infinite Power is seeking to raise 25 million pounds 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.
Reporting by Nina Chestney. Editing by Jane Merriman
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