LIQAL Raises Capital to Fund European Rollout of Clean Fuelling Solution for Transport Sector
May 09 2017 Read 1451 Times
LIQAL, the Dutch company that builds LNG and hydrogen fuelling stations for the transport sector, has secured an investment from the Brabant Development Agency (BOM) and investment fund KIKK Capital. LIQAL’s technology makes LNG (liquefied natural gas) more attractive as a replacement for diesel fuel in the heavy road and water transport sector. The use of hydrogen and LNG contributes to improved air quality, is better for the climate and provides financial benefits to transport companies.
The investment from BOM and KIKK Capital will allow LIQAL to continue to grow both in the Netherlands and abroad. In the immediate future, the company intends to recruit additional personnel, some of whom will be engaged to head new projects. LIQAL also intends to use the capital to boost innovation and strengthen its financial stability.
Breda-based LIQAL is currently active in the Netherlands and Belgium, but has serious plans to expand into the entire European market. Despite low oil prices, the demand for LIQAL’s fuelling solutions is only increasing. Earlier this month, the company opened an LNG fuelling station in the Dutch city of Heerenveen for ENGIE LNG Solutions. Two more LNG stations are soon to follow, one in Alkmaar (also for ENGIE) and another in Lokeren, Belgium, for Tankterminal.
“We want clean, gaseous fuels to become mainstream instead of diesel in the heavy road and water transport sector,” says LIQAL CEO Jorg Raven. “That’s what you see happening right now. We’re proud that BOM and KIKK Capital are showing their confidence with this investment, which will allow us to contribute to a cleaner transport sector.”
LIQAL wants to lower the bar for using alternative, environmentally friendly fuels in the transport sector. Looking ahead, hydrogen will be the cleanest solution in the long term, but LNG can already be used on a wide scale. LNG is natural gas that has been cooled to a liquid state for ease of storage and transport. It’s also much cleaner than diesel, and engines that run on it are much quieter. LNG’s most significant disadvantage is that it evaporates quickly as its temperature rises.
LIQAL’s innovation helps prevent LNG from evaporating, so it can be stored in a filling station for an unlimited period of time. Unlike competing solutions, LIQAL’s system can also be installed on ships. LIQAL’s fuelling stations are designed with the end user in mind, so the result is safe and consumer-friendly. Another thing that sets LIQAL apart from the competition is that it can deliver turnkey solutions for its clients – generally, oil & gas companies, filling station operators and shipping companies.
“LIQAL is playing into a trend that actually started to emerge quite some time ago. The market for LNG is really just on the verge of maturing,” says Johan Sebregts, investment manager at KIKK Capital. His colleague Patrick Lems adds: “LIQAL is a young, driven company with an innovative technology that is already being used by some industry-leading parties. That’s great to see.”
Miriam Dragstra, director of BOM Capital: “From a perspective of sustainability and making a real contribution to a better environment, we see LIQAL as a very interesting player. This young, innovative company is closely aligned with the Brabant region’s strong position in the area of high tech and innovation, and also uses a lot of regional vendors, which we consider a big plus.”
In addition to financing, BOM and KIKK Capital will also be providing support in other areas like access to their network of experts and potential partners. Financial details of the investment were not released.
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