Solid Oxide Fuel Cell Developer Convion Announces €4M Funding Round
Solid Oxide Fuel Cell Developer Convion Announces €4M Funding Round
author Added by FuelCellsWorks, June 07, 2018

Convion Oy, a leading developer of solid oxide fuel cell based products for distributed power generation, is pleased to announce its intention to raise up to 4 million euros with existing and new investors. Convion will raise new capital through offering equity shares via a round facilitated by Springvest Oy.

The purpose of the capital placement is to provide the company with operating capital to build a reference portfolio as well as to maintain its technology advantage. Additionally, in response to increasing commercial interest, Convion will use the capital to expand the team and provide the company with means to increase delivery capability. The 4 M€ placement will help Convion to make substantial progress in validating and improving the company offering, along with separate project financing for dedicated business and technology development areas.

Please, find more information about the round at the Springvest web site. The round is open only for companies and individuals based in Finland.