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April 20, 2006
Smart Fuel Cell Taps VC On Back Of Contract Wins
Smart Fuel Cell has raised a new round of €15M, reports Tornado Insider. We note that the deal came on the back of winning several contracts for joint development in the consumer electronics sector. There was no disclosure on the names of the investors. We've been watching SFC for several years, since it launched its first prototype of a portable fuel cell targeted at constructions sites and campers (picture here).
Over that time, the management has been consistenly executiing on the business plan, which is not always the case with alt energy startups, and therefore worth noting. In prior rounds PriCap Venture Partner AG and 3i Group Ltd. were key backers since 2000.
Read - SFC Smart Fuel Cell raises €15 million for growth (tornado insider)
Read - SFC raises €15M For Growth (press release)
Posted on April 20, 2006 02:58 PM | Posted to Alternative Energy | Venture Capital | Permalink
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