ClearEdge Raises $36 Million to Expand Fuel-Cell ManufacturingJustin Doom
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., 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.