ClearEdge Power Completes $73.5 Million Financing Round
ClearEdge Power, a manufacturer of scalable, high-efficiency stationary fuel cells, today announced that it has raised $73.5 million in Series E financing through the sale of new shares and the conversion of previously issued promissory notes. New investor Artis Capital Management led this round, which also included Austrian-based Güssing Renewable Energy; Southern California Gas Company, a regulated subsidiary of Sempra Energy; and existing investor Kohlberg Ventures. The financing will be used to further grow customer adoption in key commercial markets, expand internationally and develop and commercialize new products.
"As a leading producer of distributed generation solutions for light commercial applications, ClearEdge Power is changing the way businesses across the world get their energy," said ClearEdge Power President and CEO Russell Ford. "This new investment provides the capital necessary for ClearEdge Power to build on our already strong foundation by entering new markets, advancing our technology and commercializing new products."