Ervington made the investment via a subscription to the ordinary shares of AFC, and will allow the investor to nominate two of its members to the board of AFC.
Commenting on the investment AFC Energy chief executive Ian Williamson remarked that the funds will support to the company’s growth and scale aspirations.
"Ervington’s support not only enables us to take full advantage of our commercialisation plans expeditiously but will also provide us with high level access to energy users and potential partners globally," added Williamson.
The funds raised will further strengthen AFC’s balance sheet while also providing funds to execute its long term growth strategy as well as and investing in its low cost fuel cell technology over the next several years.
