Oorja Protonics, a secretive Fremont, Calif. start-up developing fuel cell systems that run on alcohols like methanold and ethanol, has just raised $15 million in a second round of funding, according to a regulatory filing cited by PE Week.
Alcohol-based fuel cells are still in the early stage of development, but they’ve already been introduced for commercial use in laptops, camcorders, MP3 players, mobile phones, and other devices. There’s an overview in the Space Review, which among other things, mentions potential application of these fuel cells in space.
The company raised $5.52 million from Sequoia Capital last year, which we mentioned was a first sign that Sequoia is turning attention to the alternative energy sector. This time, it brings in two of its “coat-tail” investors, DAG Ventures and Artis Capital.
DAG has made a business of partnering with other high profile investors, and investing alongside them even if DAG has to invest a little later. Artis is a hedge funds with close (family) ties with Sequoia. McKenna Capital also invested.
Update: Sunil Paul is also an investor.
>>Source Link
>>Blog: Feed
>>Publish Date: 3/15/2007 8:02:22 AM
>>Keywords: fuel dag
Related Posts
>>Feds add fuel to fire of cellulosic ethanol trend #
Range Fuels, the Broomfield Colo., company racing to build the first commercial plant for producing a more efficient form of ethanol, got closer to that goal after being awarded a $76 million grant by
>>3GSM Mobile Web Review #
Written by Rudy De Waele and edited by Richard MacManus. Note: this is a Mobile Web focused excerpt from Rudy"s complete wrapup of the 3GSM World Congress, held recently in Barcelona. One of the thin
>>Amazon"s Series of Fortunate Events #
Written by John Milan and edited by Richard MacManus Way back when I was in high school I found myself in a high school science class. It was your typical experience, replete with bunsen burners, saft