UltraCell, a producer of fuel cells for mobile power applications, has added USD3.8m in new funding.
UltraCell, a producer of fuel cells for mobile power applications, has added USD3.8m 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.
Recognised as the first commercial fuel cell system to be authorized by the US 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, OnPoint Technologies, Espirito Santo Ventures and Miami Valley Venture Fund. To date, UltraCell has attracted USD30m 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," says UltraCell chief executive 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."
