State-owned financiers the Industrial Development Corporation (IDC) and the Development Bank of Southern Africa (DBSA) are backing fuel cell technology in SA through a R50m investment in Mitochondria, a company founded and headed by prominent businessperson Mashudu Ramano.

The funding of Mitochondria Energy Company, a sustainable energy services company, will enable the completion of the bankable feasibility study of a stationary fuel cell energy solution, say the development financiers.

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