Thursday, January 24, 2013

ReliOn Gets Strategic Investment From Cummins

Spokane-based ReliOn, which is developing high reliability, fuel cell generators for backup power, has scored a strategic funding from industrial products firm Cummins Inc.. Size of the investment was not disclosed. The firm said that as part of the investment, Cumins will add a member to its board of directors. Cummins is a major manufacturer of engine related technology, including fuel systems, emissions, electric power generation, and other related products. The investment in ReliOn by Cummins comes on top of existing venture support for ReliOn from such companies as Chrysalix Energy, Enterprise Partners Montlake Capital, Oak Investment Partners PCG Capital, Robeco Group, and Wall Street Technology Partners. More information »