Nanotechnology Now







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 Young Nanoscientist India Award 2015’ to Prof. Arindam Ghosh April 20th, 2015

Nondestructive 3-D Imaging of Biological Cells with Sound April 20th, 2015

Advances in molecular electronics: Lights on -- molecule on: Researchers from Dresden and Konstanz succeed in light-controlled molecule switching April 20th, 2015

Yale-NUS, NUS and UT Austin researchers establish theoretical framework for graphene physics: Making strides towards using graphene to create new electronic devices April 20th, 2015

Investments/IPO's/Splits

Long Island Capital Alliance Announces Participants for Brookhaven National Laboratory Technology Transfer Capital Forum on May 8: Keynote Speaker Dr. Doon Gibbs, Director of Brookhaven National Laboratory April 16th, 2015

Graphenea embarks on a new era April 16th, 2015

Harris & Harris Group Portfolio Company OpGen Files Amended Registration Statement for Proposed Public Offering April 8th, 2015

Harris & Harris Group Reports Financial Statements as of December 31, 2014 and Posts Annual Letter to Shareholders on Website March 17th, 2015

Announcements

Happily ever after: Scientists arrange protein-nanoparticle marriage: New biotech method could lead to development of HIV vaccine, targeted cancer treatment April 20th, 2015

Nondestructive 3-D Imaging of Biological Cells with Sound April 20th, 2015

Advances in molecular electronics: Lights on -- molecule on: Researchers from Dresden and Konstanz succeed in light-controlled molecule switching April 20th, 2015

Yale-NUS, NUS and UT Austin researchers establish theoretical framework for graphene physics: Making strides towards using graphene to create new electronic devices April 20th, 2015

Military

Engineer improves rechargeable batteries with MoS2 nano 'sandwich' April 18th, 2015

Cobalt film a clean-fuel find: Rice University discovery is efficient, robust at drawing hydrogen and oxygen from water April 15th, 2015

MIT sensor detects spoiled meat: Tiny device could be incorporated into 'smart packaging' to improve food safety April 15th, 2015

Novel nanoparticles could save soldiers' lives after explosions April 15th, 2015

Energy

Better battery imaging paves way for renewable energy future April 20th, 2015

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors: Company's Newest Director Brings Expertise in Commercial and Legal Matters Both in the United States and China; Joins on the Heels of Successful Business Development Trade Mission to China April 18th, 2015

Major advance in artificial photosynthesis poses win/win for the environment: Berkeley Lab researchers perform solar-powered green chemistry with captured CO2 April 16th, 2015

Newly-Developed Nanocatalysts Increase Performance of Fuel Cells April 16th, 2015

Fuel Cells

Newly-Developed Nanocatalysts Increase Performance of Fuel Cells April 16th, 2015

Cobalt film a clean-fuel find: Rice University discovery is efficient, robust at drawing hydrogen and oxygen from water April 15th, 2015

Research could usher in next generation of batteries, fuel cells University of South Carolina and Clemson reseachers uncover clean interfaces April 10th, 2015

Cheap Nanocomposite with Electrocatalytic Application in Fuel Cells Synthesized in Iran April 9th, 2015

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