BRITAIN-INFINITEPOWER/Infinite Power signs agreement with Marubeni to use power cell technology
LONDON: Britain’s Infinite Power said on Friday it has signed a letter of intent with Marubeni’s Nuclear Fuel Dept of Japan to seek potential markets to use the firm’s power cell technology in Japan.
Infinite Power has developed power cells which operate in a similar way to solar cells, but instead of converting the sun’s rays into electricity Infinite Power’s cells convert the radiation wave emitted from a radioisotope, which is an atom that has excess nuclear energy, into electricity.
Inifinite Power said last month it was seeking to raise 25 million pounds ($32 million) to construct its first production facility in Britain to make the power cells to provide clean energy to industry.
Discussions are ongoing with investors in the United States and Britain, the firm said.