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Fuel Cell Startup P21 Raising New Capital

Publication Date:29-May-2006
09:00 AM US Eastern Timezone
Source:alarm:clock euro

P21 GmbH, a developer of fuel-cell based emergency power generators, is looking to raise up to €10M to finance international sales growth, according to an article in Manager Magazin.

The startup was founded in 2001 as a management buy-out from the Mannesmann/Vodafone group. It targets the telecommunications and IT sector and markets its fuel cells as uninterruptible power supplies. Backed by Target Partners, Conduit Ventures, Techfund Europe, the firm raised a €6M first round in 2004.


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