Young Company Finance Article
by Colin Adams
(Dated: June 2010)
European Fuel Cell Online
Dr Steven Plank studied physics at Edinburgh and recently graduated with a PhD in
the field of “Dark Matter”. As it turned out, a job in his chosen field – renewable
energy – proved as elusive as the mysterious material interspersed throughout the
Universe.
The solution Plank came up with was to launch his own company, European Fuel Cell
Online, which he did little more than two months ago. It has been designed as a one-stop
shop for hydrogen fuel cell technology, which will be a vital component of Scotland’s
push to harness the power of the Sun, wind and hydro. The drawback of renewable generation
is that as an energy source it is intermittent and hydrogen fuel cells offer the
best option for storing the power until it is needed.
Plank says he has had advice, support, and vital business introductions from Dave
McGrath of ReGenTech, which like European Fuel Cell Online, is based in Aberdeen.
The company is already trading as a re-seller for Singapore-based Horizon, but Plank
is currently in talks with a number of other suppliers to add to his website. Initially
he is targeting renewable energy companies but hopes eventually to be working with
the university research sector and to a lesser extent, the general public as the
popularity of domestic turbines and solar panels grows.
With his scientific background, however, Plank expects European Fuel Cell Online
to grow beyond re-selling other companies’ products: “Research into hydrogen fuel
cell technology is ongoing with advances continually being made. The scientific development
in this area is an aspect of great interest to me and one I would like to be involved
with in the future.” he says.
