Fuel Cell Company Tropical S.A. Announces Strategic Private Investment Infusion
ATHENS, March 29, 2012 /PRNewswire/ --
Investment to drive international expansion and commercial launch of brand new products
Tropical S.A. today announced its first investment round by an independent private investor. Proceeds from the investment will go toward international expansion and new product development.
"This is a great opportunity for us to accelerate international growth, as well as make broadly available a number of high-tech products from our product pipeline'' said George Lagios, Chairman and CEO of Tropical. "With a solid track record of developing & deploying new products and one of the largest fuel cell power generator product portfolios, we are strategically positioned to take advantage of emerging opportunities."
According to Pike Research, stationary fuel cell power systems continue to be the trailblazer for the entire fuel cell industry, experiencing a compound annual growth rate (CAGR) of 27% between 2008 and 2010 with annual unit shipments soon expected to be in the order of tens of thousands.
Today, Tropical's product portfolio consists of a Fuel Cell Power Systems, Electric & Fuel Cell Vehicles and Commercial Vehicle A/C & Refrigeration Systems. The Fuel Cell Power Systems can use as primary fuel hydrogen, methanol, propane, natural gas & LPG to power both stationary and portable applications in the range of 1W to 20KW. Tropical has also been the first European company to deploy Hydrogen Fuel Cells to power electric cars, scooters and boats.
Tropical will be introducing its new, 5KW natural gas-powered fuel cell power system GreenGen NG-5, at the upcoming Hydrogen + Fuel Cells tradeshow in Hannover (23-27 April, 2012, stand D60). Show visitors will be able to see a live operation of the 5KW GreenGen NG-5 power system.
About TROPICAL S.A.
Tropical S.A. is a developer of distributed power generation products and solutions. The company designs, manufactures and sells a broad range of Hydrogen & Fuel Cell Technology solutions for residential, commercial and institutional, fixed or portable applications. Its product portfolio includes Fuel Cell Power Systems, Electric & Fuel Cell Vehicles and Commercial Vehicle A/C & Refrigeration Systems. A longtime leader of the A/C & Refrigeration Systems market with its innovative Inverter Technology, over the past decade Tropical made significant investments in the development of fuel cell technologies. For more information about the company and products, you may visit http://www.tropical.gr.
Contact: George Lagios, +302105785455 info [@] tropical.gr, http://www.tropical.gr
SOURCE Tropical S.A.
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