Libertine FPE Ltd used a £500,000 NPIF equity investment to advance its ‘Linear Power Systems’ technology and set up a new headquarters in Sheffield with product development and testing facilities.
It was the first investment by NPIF – Enterprise Ventures Equity Finance, part of the Northern Powerhouse Investment Fund in the Sheffield City Region.
Libertine is working with customers in the power and transport industries to commercialise electrical power generator products known as free piston engines, in which the crankshaft is replaced by a linear electrical generator. This results in a highly efficient engine which can make better use of renewable fuels such as biogas and bioethanol, and potentially produce a third more power from the same amount of fuel. Libertine aims to make the free piston engine a leading format for small-scale ‘on demand’ distributed power generation.
Founded by Sam Cockerill, an engineer with a background in the biofuels industry, Libertine currently employs four staff and expects to double its workforce in the year ahead.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Enterprise Ventures Limited is authorised and regulated by the Financial Conduct Authority (FRN: 183363)