Existing shareholders made the investment in the form of a senior, secured convertible note. Simultaneous with the investment, the Board of Directors has been reorganized, and Travis Bradford has been appointed Chairman of the Board. In addition to his role on the Board, he will assume an executive role in strategic planning, business development, and product commercialization.
The company intends to use the funds to finalize its technology and expand its team of engineering and business professionals.
Founded in 2010 and led by Dr. Caine Finnerty, Ph.D., President and CEO, Watt Fuel Cell Corporation is a developer and manufacturer of Solid Oxide Fuel Cell stacks and systems that operate on common, readily available hydrocarbon fuels such as propane, natural gas, biogas, and liquid hydrocarbons, as well as hydrogen fuel. The company is actively pursuing commercial opportunities in the off-grid, marine, RV, military, communication, and residential markets.
FinSMEs
16/02/2017