Monday, April 28, 2008

ReliOn Adds $23M

Spokane-based ReliOn, a provider of fuel cells for the backup power market, said Monday that it has raised an additional $23M in a funding round. The series C funding came from PCG Clean Energy & Technology Fund, Robeco Clean Tech Private Equity II, and the firm's existing investors, which include Oak Investment Partners, Enterprise Partners Venture Capital, Wall Street Technology Partners, Chrysalix Energy Venture Capital, Buerk Dale Victor, and parent Avista Corp. Jasandra Nyker of PCG will join the firm's board of directors as part of the funding; Rhea Hamilton of Robeco will become an observer. ReliOn's fuel cell products are used for 300-Watt to 12-kilowatt backup power. More information »