According to Pittsburgh Bizjournal and an SEC Filing, Watt Fuel Cells has raised $67 million thought its investors.
No other details are available at this time.
“Through a combination of both new and existing investors, Watt plans to use the funds for continued development and product commercialization,” Sarah DeWald, director of finance and operations, said via email to the Journal..
“She added the company plans to issue a more public statement in the coming weeks that will have further information.”
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About WATT fuel Cell
WATT Fuel Cell Corporation is a developer and manufacturer of Solid Oxide Fuel Cell (“SOFC”) stacks and systems that operate on common, readily available hydrocarbon fuels such as propane, natural gas, JP-8, and diesel.
WATT’s mission is to provide portable, quiet, light, efficient, affordable, and environmentally responsible energy solutions to a range of power markets with its superior hybrid power products and advanced manufacturing capabilities.
Founded in 2010, WATT commenced its product development and operations in Long Island, NY. In April 2014, the Company acquired veteran fuel cell developer, Pittsburgh Electric Engines Inc. (“PEEI”). During the summer of 2014, operations were expanded with the building of a state-of-the-art SOFC (Solid Oxide Fuel Cell) additive manufacturing production facility in Mt. Pleasant, PA, about an hour southeast of Pittsburgh.
WATT currently employs 24 people and is ready to expand its management team with strategic hires that will help expand business development, production, and sales.