Thursday, April 7, 2011

ReliOn Adds $6M

Spokane-based ReliOn, a developer of fuel cell technology for backup power, said this week that it has raised an additional $6M in equity financing. The firm said the funding came from existing investors, but did not say which investors participated in the round. ReliOn develops fuel-cell based, backup power systems, which it says has been deployed at 1,225 customer sites globally. The firm said the funding will go towards commercial growth in the U.S. plus expanded international marketing and sales. ReliOn has previously raised funding from such companies as Chrysalix Energy, Enterprise Partners, Montlake Capital, Oak Investment Partners, PCG Capital, Robeco Group, and Wall Street Technology Partners. More information »