ClearEdge Power, a Hillsboro, OR-based manufacturer of high-efficiency stationary fuel cells, has raised $73.5m in Series E financing.
The round was led by new investor Artis Capital Management, with participation from Güssing Renewable Energy, Southern California Gas Company, a regulated subsidiary of Sempra Energy (NYSE: SRE), and existing backer Kohlberg Ventures.
The company intends to use the funds to further grow customer adoption in key commercial markets, expand internationally and develop and commercialize new products.
Led by President and CEO Russell Ford, ClearEdge Power designs, manufactures and markets the ClearEdge5 system, a proven fuel cell appliance that cleanly converts natural gas to electricity and heat.
The company has sold systems to a variety of industries, including multi-tenant housing, hospitality, education, utilities, public sector and residential. It operates additional offices in Sunnyvale, CA, Palm Desert, CA, Irvine, CA, and Washington D.C.