Infinite Power seeks to raise funds for UK power cell plant

LONDON (Reuters) - Infinite Power is seeking to raise 25 million pounds ($32 million) to construct its first production facility in Britain to make power cells to provide clean energy to industry.

The company has developed power cells which operate in a similar way to how solar cells capture the sun’s energy and convert it into electricity.

Instead of converting the suns rays, Infinite Power’s cells converts the radiation wave emitted from a radioisotope, which is an atom that has excess nuclear energy, into electricity.

The technology was developed at a research and development facility in Cumbria. The firm said there is no nuclear waste - the isotope decays into a stable material that can be sold, reused, or disposed of.

The company aims to develop a 10 megawatt (MW) plant powered by the cells which could provide energy to small communities or industrial estates and then ramp up to large plants over 1 gigawatts.

“We’re talking to investors both here in the UK and in the US. Interest is strong and we’re now looking to secure a site to build our (first) plant,” chief executive Robert McLeod told Reuters.

Reporting by Nina Chestney. Editing by Jane Merriman