Wednesday, May 22, 2013
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Fuel Cell company ClearEdge Power Raises $10 Million
ClearEdge Power, a privately held manufacturer of fuel cell power systems, has raised $10 million in convertible debt, according to a new filing by the company with the Securities and Exchange Commission.
Founded in 2003, ClearEdge offers scalable, continuous onsite power systems for commercial, institutional and residential customers. Two new products from the company now enable it to deliver both power and heat.
ClearEdge’s electrochemical process converts natural gas to electricity and heat, and reduces carbon dioxide emissions by up to 41% when compared to traditional combustion technology, according to the company.
The company says it offers the industry’s only commercially available continuous onsite power system for businesses or homes that require between 5 kW and 200 kW of electrical power.
ClearEdge Power has more than 100 customer installations since its founding.
Investors in the company include Big Basin Partners, Applied Ventures, and Southern California Gas Co.
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