Russian oligarch and owner of Chelsea Football club in London, Roman Abramovich has bought an £8.6million stake in industrial fuel cell power company, AFC Energy.

Mr Abramovich’s equity firm Ervington Investments bought 15% of the company, announced yesterday.

AbramovichAFC Energy says the cash will help it kick its long term growth strategy into action and invest more in its low cost fuel cell technology over the next few years.

Ian Williamson, chief executive of AFC Energy said: “Our low cost hydrogen fuel cells are cleaner and more efficient than technologies that use combustion to generate energy like gas-fired power stations. They also supply continuous, base-load power unlike other clean energy sources such as solar and wind power.”

For more distributed generation news