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PolyFuel Raises $18.4 Million in Funding

PolyFuel, Inc., a company developing membrane technology for portable fuel cells, announced it has closed a $18.4 million, third round of funding, bringing total investment in the 5-year-old startup to approximately $40 million. This round, led by CDP Capital – Private Equity includes existing investors Mayfield, Ventures West, Technology Partners, Intel Capital, and Chrysalix Energy as well as new investors Conduit Ventures Limited, KTB Ventures, Hotung Venture Partners, Yasuda Enterprise Development, and BiNEXT, a part of the Daesung Group. Portable fuel cells, which have the potential to become the next power source for mobile electronic devices such as portable computers or cell phones, depend on a sophisticated membrane that permits methanol to interact with water and air to produce electricity. PolyFuel has a leading technology to make this membrane. The proceeds from this round are expected to enable PolyFuel to support its customers through their initial test market phases and into early stages of commercial production. "PolyFuel has established a tremendous market momentum," commented Grant Heidrich, partner emeritus at Mayfield. "Based upon the quality of its technology, the company has grown its pilot base by over 400% in the past year, to where nearly every serious player in the portable […]

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Weekly Clean Energy Roundup:July 7, 2004

*News and Events Honda Unveils the Hybrid-Electric Accord Rhode Island Sets Renewable Energy Requirements L.A. Aims to Meet California’s Renewable Energy Requirements USDA Awards Grants for Wind and Solar Energy Projects New York State Awards $15 Million for Clean Energy Projects Construction Starts on Grid-Connected Superconducting Cable *Site NewsUMass Lowell Solar Energy Engineering Program*Energy ConnectionsU.S. Greenhouse Emissions Increased Moderately in 2003 ———————————————————————————News and Events ———————————————————————————Honda Unveils the Hybrid-Electric AccordAmerican Honda released the first images of its 2005 Accord V6 Hybrid last week, and although it may not look much different, the new vehicle packs a lot of technology under its hood. Using what Honda is calling a “next-generation hybrid powertrain,” the new vehicle delivers more than 240 horsepower. It also takes advantage of the electric motor’s high torque at low speeds, delivering “near-peak torque” across the engine’s entire operating range, according to Honda. The Accord Hybrid will be Honda’s first vehicle to incorporate Variable Cylinder Management technology, which deactivates three of the six cylinders during cruising and deceleration. Honda claims the Accord Hybrid will deliver more power and performance than the current Accord V6, while achieving the fuel economy of a four-cylinder Civic. The new Accord Hybrid goes on sale […]

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