The company announces the appointment of Greg McCray as its new Chief Executive. McCray will lead the company through its next round of funding and product trials in the automotive and stationary power industries as the company moves towards the commercialisation of its technology.
ACAL Energy’s FlowCath technology, which has been under development for the last eight years, uses up to 80% less platinum than conventional fuel cells thanks to a platinum-free cathode; this allows for substantial cost reductions. In addition, the company claims that the system is more durable than existing market equivalents.
McCray was previously CEO of Antenova Limited, a fast-growing antenna business, and before that he headed PipingHot, a UK broadband start-up; under his management the company raised $27 million in venture capital funding, and the company was subsequently acquired by Motorola.
ACAL is looking to raise £15 million within the first half of this year to respond to rising demand for clean power from industry, and McCray’s history looks to make him an appropriate leader for this goal.
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