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Stationary fuel cell maker ClearEdge raises $36m to expand production

Wed, 03/20/2013 - 17:36 -- Editor

United States stationary fuel cells maker ClearEdge Power has raised $36 million in financing to expand manufacturing and sales operations.

In a statement, David B. Wright, the CEO of Oregon-based firm said the funding “enables us to make decisions that ensure profitable growth.”

According to Bloomberg, ClearEdge last month completed its acquisition of UTC Power, a fuel-cell producer, from United Technologies, the Hartford, Connecticut-based maker of Pratt & Whitney jet engines and Otis elevators. 

ClearEdge’s fuel cells primarily use natural gas to produce heat and power.