In October last year, Blue World Technologies saw the light of day as a new player in the methanol fuel cell market for the transport sector. Since then, interest has been enormous, and the company has now closed the initial investment round with great success. The goal is a stock exchange listing within five years.
Five months ago, they were three, now the team counts 23 people, all of whom are dedicated to ensuring Blue World Technologies a good launch. But the rapidly growing number of employees does not stop here, within a year they expect that there will be 100 employees in the company, and hands and heads are needed to realise Blue World Technologies’ ambitious plans. Before the end of the year, production facilities of 4,000 m2 is erected and it is expected that commercial production will already be up and running within the next two years. These plans are made possible by a successful seed-round, where the result is matching the company’s high expectations.
Fast-growing Chinese car manufacturer is lead investor
The Chinese car manufacturer AIWAYS is among the investors who see great potential in the fuel cell technology that Blue World Technologies is working with.
AIWAYS is also a relatively young company, but at the same time, it is a fast-growing company that already has cars on the roads in China and is well on the way to scale their production. It is expected that their cars will hit the European market within the coming year.
In addition to the investment from AIWAYS, Blue World Technologies also received investments in the seed-round from several smaller investors.
Great focus on the Chinese market
The fact that Blue World Technologies has got a Chinese car manufacturer as an investor is not coincidental. When it comes to e-mobility and sustainable energy technologies the development is huge in the Chinese market. This is due to, among other things, great political support for the green transition, which means that the transition in China is moving at high speed compared to, for example, Europe.
Besides the production facilities in Denmark, Blue World Technologies is also planning production facilities locally in China, and there will also be close cooperation with several different Chinese component suppliers.
Blue World Technologies is a fuel cell
manufacturer with a specific focus on the transport sector.
Blue World Technologies' systems use 100% methanol as fuel. Methanol is a liquid fuel, available anywhere in the world, can be stored and transported as we do today with traditional fuels and can be produced as a green CO2 neutral fuel.
Blue World Technologies' fuel cell systems act as a range extender in an electric vehicle, ensuring a range of more than 1,000 km, 3-minute refueling time and zero harmful emissions.
Please see the press release in Blue World Technologies’ pressroom on MyNewsDesk, with related content and a Danish translation.