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ClearEdge Power Nabs $36M More, But Cuts Staff

Hillsboro, Oregon-based ClearEdge Power, which develops fuel cell-based systems which convert natural gas into electricity and heat, has raised $36M in a new funding round, the firm said Monday. The firm said the funding will go towards serving its current customers, supporting manufacturing, and for sales. The new funding comes even as it laid off 39 percent of its workforce, part of the activities associated with its acquisition of UTC Power in February. ClearEdge's equipment use natural gas to create electricity, in addition to heat, using fuel cell technology. Source of the new funding round was not announced. More information »


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