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Portfolio
Amminex A/S
Invested August 2007

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Amminex A/S, based in Denmark, is developing a unique solid storage technology that greatly enhances the safety of ammonia without sacrificing volumetric storage capacity. This can be applied where it is essential to safely and economically store ammonia for direct ammonia gas application or where ammonia is used as hydrogen carrier for hydrogen generation.
Website:wwww.amminex.net
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Cellex Power Products Inc
Invested March 2002
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Cellex Power Products Inc., based in Vancouver, Canada, focused on the development of fuel cell power systems for use in powered industrial vehicles such as fork lift trucks. Cellex was sold to Plug Power in April, 2007.
Website:www.cellexpower.com
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CMR Fuel Cells Plc
Invested January 2004
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CMR Fuel Cells Plc ("CMR") is based in Cambridge, UK, and focuses on the development of mixed reactant fuel cell stack for use in portable devices.On 22nd December 2005 the company listed on the London Stock Exchange.
Website:www.cmrfuelcells.com
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Controlled Power Technologies Inc
Invested January 2008
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Controlled Power Technologies Inc (CPT) is a UK based automotive component supply company, developing a suite of proprietary engineering technologies which comprise air flow management systems applicable to a broad range of automotive technology platforms including fuel cell systems.
Website:www.cpowert.com
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Hydrexia Pty Ltd.
Invested December 2007
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Hydrexia Pty Ltd, based in Brisbane, Australia at the St Lucia campus of The University of Queensland (UQ) is developing hydrogen storage systems based on magnesium hydrides and is initially targeting hydrogen applications, such as large-scale, industrial hydrogen storage, transport fuelling storage, and storage for hydrogen fuel cell back-up for remote applications.
Website:www.hydrexia.com.au
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Nano Fusion Technologies Inc
Invested September 2005

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Nano Fusion Technologies Inc. (NFT), is based in Tokyo, Japan. It is focused on the development of micro pumps, using microfluidics technology, for use in controlling micro-sized liquid delivery for micro fuel cells in portable devices.
Website:www.nft-eop.co.jp
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P21 Gmbh
Invested March 2004
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P21 Gmbh, based in Munich, Germany, a spin-off from the Mannesmann/Vodafone Group, develops power-based solutions for mobile telecommunications networks.
Website:www.P-21.com
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Pemeas
Invested March 2004
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Pemeas based in Frankfurt, is a leading supplier of key components such as high temperature membranes and MEAs and precious metal catalyst and electrode technology to the fuel cell industry. Pemeas was sold to BASF on 14th December, 2006.
Website:www.pemeas.com
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PolyFuel
Invested May 2004
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PolyFuel based in Mountain View, California, is developing improved membranes and systems for direct methanol fuel cells. This may enable fuel cells portable electronic devices. PolyFuel listed on the London Stock Exchange on 5th July 2005.
Website:www.polyfuel.com
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Protonex Corporation
Invested October 2003

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Protonex based in Massachusetts, designs and builds
10 – 500 watt portable and remote power systems using hydrogen PEM fuel cells. They have successfully integrated Mesoscopic Devices, a leading solid oxide fuel cell and reformer technology company based in Colorado. The company listed on the London Stock Exchange in July 2006.
Website:www.protonex.com
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Vairex International Limited
Invested Sept 2008

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Vairex international limited, based in Cambridge UK, Boulder Colorado USA, and Tokyo Japan, designs, manufactures, and sells advanced air systems for the global hydrogen fuel cell and diesel emissions controls markets. The high efficiency of Vairex products results in power consumption of one-half or less of the alternatives. Vairex advanced air systems consist of restrained vane compressors and regenerative blowers with integrated motors and controllers.
Website: www.vairex.com
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Wal Filters
Invested June 2008
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Wal Filters ("Wal") is based in Hefei, Eastern China and develops pre-engine treatment systems, including fuel filters, oil filters, water separators and air filters, for diesel engines meeting the Euro III emission standard.
Website:www.walfilters.com
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