Breda, the Netherlands, May 2, 2017 – 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.
LIQAL is a young and innovative player that has set itself the goal of lowering the bar for the use of alternative, environmentally friendly fuels. LIQAL is pursuing this ambition with its own innovative designs of infrastructure like fuelling stations for hydrogen and LNG. LIQAL delivers high-quality solutions that offer low total cost of ownership (TCO) and excel in user-friendliness. For more information: www.LIQAL.com
About KIKK Capital
KIKK Capital invests in young companies that have developed and recently launched a new product, process or service. The shareholders and fund management invest not only with capital, but also by providing knowledge, skills and network connections. All its shareholders have their own body of expertise gained from holding leading positions in national and international businesses. KIKK Capital remains actively involved in its participations and holds itself to shared responsibility for the success of every company. For more information: www.kikkcapital.com
BOM is an economic development agency committed to supporting the continued growth of companies in the Dutch Brabant region. BOM provides knowledge, capital, talent, market and facilities to ambitious entrepreneurs with growth potential who focus on finding solutions to economic and social issues. By doing this, BOM contributes to the sustainable development of Brabant’s economy. BOM is located in Tilburg and currently employs about 90 people. For more information: www.bom.nl