Low-emission tech firm ULEMCo receives six-figure investment

Low-emission technology firm ULEMCo has received a £400k boost to accelerate growth and develop its Liverpool-based technical team.

The firm secured the six-figure investment from the North West Fund for Energy & Environmental, a debt and equity funding organisation set up to support SMEs.

ULEMCo, which converts commercial vans to allow them to run on hydrogen, will use the cash to open a new Liverpool City Region office and bolster its engineering and business development capabilities in the next three years, during which time the firm will create up to 10 jobs.

Amanda Lyne, CEO at ULEMCo, said: “We are naturally delighted at this investment from the North West Fund, which takes us to the next level of our development.

“Not only will it provide for our continued growth over the next phase, but it is a vote of confidence from an existing investor who knows us well.”

Warrington-based 350 Investment Partners manages the £20m fund.

Adam Workman, a partner at 350, said: “The timing was right for us to increase our support for ULEMCo as it continues to extend its technical capability and commercial penetration.

“There is significant potential for hydrogen fuelled vehicles to reduce harmful emissions and reduce costs, and we are pleased to be part of that initiative.”

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