Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > UltraCell Adds $3.8 Million in New Funding

Abstract:
Investment to Fuel U.S. Manufacturing Expansion, Drive Micro Fuel Cell System Design Developments, Field Readiness

UltraCell Adds $3.8 Million in New Funding

Livermore, CA | Posted on May 26th, 2009

UltraCell Corporation, a leading producer of fuel cells for mobile power applications, today announced $3.8 million in new funding.

UltraCell will use the new capital to scale manufacturing at the company's facility in Dayton, Ohio -- the first and only volume-production micro fuel cell facility in North America -- and expand sales, marketing and field trial testing of its flagship product, the UltraCell XX25 portable fuel cell. Recognized as the first commercial fuel cell system to be authorized by the U.S. Military for portable devices, the XX25 is designed to run a ruggedized laptop computer for up to eight hours on a single 250cc fuel cell cartridge. The system can also be configured for weeks of runtime in stationary applications such as remote video monitoring, surveillance and communications equipment.

The round of new funding was led by existing investors BASF Venture Capital GmbH, OnPoint Technologies, Espirito Santo Ventures (ES Ventures) and Miami Valley Venture Fund. To date, UltraCell has attracted $30 million in investment since it was founded in 2002.

"Over the past year we have seen an increase in field use of our XX25 product and success in building our products in our Dayton facility," said UltraCell CEO Keith Scott. "Our founding vision was to bring fuel cells out of the labs and into mass manufacturing -- and we're thrilled to be succeeding in this goal. This new funding will help us expand our market presence significantly, and enable us to respond even more quickly to increased market demands."

"UltraCell has impressed BASF, pushing the boundaries of next-generation power in innovative ways," said Keith Gillard, Principal, BASF Venture Capital America, Inc. "UltraCell is the premiere example of fuel cell technology realizing new markets by enabling new products, rather than mere incremental improvement over incumbent technologies. Increased market penetration and proven manufacturing capabilities distinguish UltraCell in the fuel cell industry."

####

About UltraCell
UltraCell is a leading producer of fuel cell systems for mobile devices. With an exclusive license with Lawrence Livermore National Laboratories for micro fuel cell technology, the company has developed new technologies and intellectual property in the field of methanol-based fuel cells. Its patented, award-winning portable fuel cell, the XX25, achieved Technology Readiness Level (TRL) 7 status, a significant U.S. Army milestone and certification for military use and commercial production.

About BASF Venture Capital GmbH

BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany and participates in start-up companies and funds. In doing so, it focuses on companies with innovative business models and technologies in which chemistry is an important key to success. Additional information is available at www.basf.com.

About OnPoint Technologies

OnPoint Technologies is a strategic venture investor with a mission to discover, invest in and support companies at the intersection of Army and commercial marketing needs. OnPoint is funded by the U.S. Army and acts as a bridge between the Army and the innovation community (entrepreneurs, established companies, universities, researchers, and venture capitalists). For more information, please visit www.onpoint.us.

About Espirito Santo Ventures (ES Ventures)

Espirito Santo Ventures (ES Ventures) is a venture capital firm of Espirito Santo Group, providing equity financing, management support and market expertise to promising companies with talented and ambitious entrepreneurs who have developed innovative products, services and business models. For more information, visit www.es-ventures.com.

About Miami Valley Venture Fund II (MVVF II)

Miami Valley Venture Fund II (MVVF II) is a geographically targeted early- and growth-stage fund investing in companies located in the 12-county region surrounding Dayton, Ohio. The Fund is one of three funds managed by the Dayton Development Coalition, its General Partner, and River Cities Capital, its Investment Manager. The Coalition is a collaborative effort of private and public sector organizations and individuals focused on the attraction and growth of technology companies in the Dayton Region, with a primary emphasis on emerging technologies in aerospace, information technology/data management, advanced materials and human sciences.

For more information, please click here

Contacts:
For More Information, Contact:
Juli Greenwood
CHEN PR
O: 781-672-3137
M: 617-515-8412

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Oxford Instruments Asylum Research and McGill University Announce the McGill AFM Summer School and Workshop, May 12-13, 2016 May 4th, 2016

The intermediates in a chemical reaction photographed 'red-handed' Researchers at the UPV/EHU-University of the Basque Country have for the first time succeeded in imaging all the steps in a complex organic reaction and have resolved the mechanisms that explain it May 4th, 2016

New tool allows scientists to visualize 'nanoscale' processes May 4th, 2016

FEI Launches Apreo Industry-Leading Versatile, High-Performance SEM: The Apreo SEM provides high-resolution surface information with excellent contrast, and the flexibility to accommodate a large range of samples, applications and conditions May 4th, 2016

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Announcements

Oxford Instruments Asylum Research and McGill University Announce the McGill AFM Summer School and Workshop, May 12-13, 2016 May 4th, 2016

The intermediates in a chemical reaction photographed 'red-handed' Researchers at the UPV/EHU-University of the Basque Country have for the first time succeeded in imaging all the steps in a complex organic reaction and have resolved the mechanisms that explain it May 4th, 2016

New tool allows scientists to visualize 'nanoscale' processes May 4th, 2016

FEI Launches Apreo Industry-Leading Versatile, High-Performance SEM: The Apreo SEM provides high-resolution surface information with excellent contrast, and the flexibility to accommodate a large range of samples, applications and conditions May 4th, 2016

Military

New tool allows scientists to visualize 'nanoscale' processes May 4th, 2016

Making invisible physics visible: The Jayich Lab has created a new sensor technology that captures nanoscale images with high spatial resolution and sensitivity May 2nd, 2016

Nanograft seeded with 3 cell types promotes blood vessel formation to speed wound healing April 27th, 2016

The light stuff: A brand-new way to produce electron spin currents - Colorado State University physicists are the first to demonstrate using non-polarized light to produce a spin voltage in a metal April 26th, 2016

Energy

Nanoparticles present sustainable way to grow food crops May 1st, 2016

NREL finds nanotube semiconductors well-suited for PV systems April 27th, 2016

Researchers create artificial protein to control assembly of buckyballs April 27th, 2016

Flipping a chemical switch helps perovskite solar cells beat the heat April 26th, 2016

Fuel Cells

Ruthenium nanoframes open the doors to better catalysts April 4th, 2016

Saving sunshine for a rainy day: New catalyst offers efficient storage of green energy: Team led by U of T Engineering designs world's most efficient catalyst for storing energy as hydrogen by splitting water molecules March 28th, 2016

Carbon leads the way in clean energy: Groundbreaking research at Griffith University is leading the way in clean energy, with the use of carbon as a way to deliver energy using hydrogen March 23rd, 2016

Physicists prove energy input predicts molecular behavior: Theoretical proof could lead to more reliable nanomachines March 22nd, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic