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.