H2 Logic seeks investor to realise growth plan  

2008.11.19
Danish company H2 Logic, an integrator of complete hydrogen fuel cell motive power solutions, is looking for an investor to supply capital and help realise a new business plan
Danish company H2 Logic, an integrator of complete hydrogen fuel cell motive power solutions, is looking for an investor to supply capital and help realise a new business plan that aims to create strong growth in the next five years, writes financial daily newspaper Børsen. H2 Logic was established in 2003 by four engineering students from the University of Aarhus, studying in a department of the university located in the Jutland town of Herning.
 
MD and co-owner of H2 Logic Jacob Hansen says to Børsen that it is difficult to give an estimate of how much the company's revenue will grow in the next five years. In 2008, H2 Logic forecasts revenues of around DKK 20m (USD 3.4m). "Our volume can become between five and twenty times greater in that period [over the next five years]."
 
H2 Logic's new business plan focuses on development of components for trucks and later hydrogen cars that can cover a radius of a sufficient size to make them interesting to motorists, and hydrogen filling stations. In February, the company will move to larger premises, where it plans to start production of up to 50 second generation H2 Trucks. There are currently 10 first generation H2 Trucks in use in Jutland.
 
Business development manager Mikael Sloth says that H2 Logic does not have an immediate need for capital, but will require cash for the next stages. "We could probably raise what we need from "cowboy investors", but we would rather wait for some who believes in us and wants to join us for a longer period."
 
Link > H2 Logic   

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