ClearEdge Raises $36 Million to Expand Fuel-Cell Manufacturing

ClearEdge Power Inc., a closely held maker of stationary fuel cells, raised $36 million in financing to expand manufacturing and sales operations.

The funding “enables us to make decisions that ensure profitable growth,” David B. Wright, chief executive officer of Hillsboro, Oregon-based ClearEdge, said in a statement today.

ClearEdge last month completed its acquisition of UTC Power, a fuel-cell producer, from United Technologies Corp. (UTX), the Hartford, Connecticut-based maker of Pratt & Whitney jet engines and Otis elevators.

ClearEdge’s fuel cells primarily use natural gas to produce heat and electricity, according to its website.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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