ClearEdge Power secures $36 million of new funding Funding supports integrated 5 kW to 400 kW energy solutions for customers from small business to utilities and every need between.
HILLSBORO, Ore., March 18, 2013 /PRNewswire/ -- ClearEdge Power, a manufacturer of scalable, distributed power systems, today announced that it has raised $36 million in equity financing to serve current customers, support manufacturing operations and rapidly expand sales activities.
"Continuing to strengthen our financial resources along with our recent acquisition of UTC Power enables us to address the demand for clean, continuous, distributed power solutions from an expanded customer base," said David B. Wright, ClearEdge Power President and CEO. "Our strong balance sheet enables us to make decisions that ensure profitable growth."
In February, ClearEdge Power acquired UTC Power, a driving force in developing fuel cells that deliver highly efficient and reliable power, and positioned the company as the most experienced innovator in the fuel cell industry.
With over 30 MW installed in applications as diverse as hotels, hospitals, schools, data centers, industrial campuses and utilities, ClearEdge Power is the only company offering 5 kW to multi-MW commercial combined heat and power solutions.
About ClearEdge Power
ClearEdge Power provides clean, distributed power systems that scale from 5 kW to multiple megawatts. As the most experienced fuel cell producer, ClearEdge Power is transforming power generation with innovative solutions that help customers reduce electricity bills, improve energy efficiency and reduce carbon emissions. For more information, please visit http://www.clearedgepower.com
Contact: Jennifer Sager
Office: 860-727-2485 / Cell: 860-305-7297
SOURCE ClearEdge Power