Tuesday, August 23, 2011

ClearEdge Power Gains $73.5M

Hillsboro, Oregon-based ClearEdge Power, the manufacturer of fuel cell energy systems, announced this morning that it has raised $73.5M in a financing round. The round was a Series E funding, and was led by new investor Artis Capital Management. ClearEdge said the round also included Gussing Renewable Energy, Southern California Gas Company, and Kohlberg Ventures. ClearEdge said the new funding will go to grow customer adoption in the commercial market. ClearEdge makes equipment which converts natural gas into both energy and heat, saving energy and money on power. As part of the funding round, ClearEdge said it has grown its revenues by more than 480 percent year-over-year, in its recently completed second quarter. More information »