FuelCellsWorks

ClearEdge Power Inc. is on the verge of being the first to market with a hydrogen fuel cell aimed at powering large homes and small businesses.

The Hillsboro company will reach that goal with the help of an $11 million venture capital round completed in January — no small feat during a first-quarter in which worldwide venture capital and private equity investments fell to its lowest point in two years.

By the end of the summer the company hopes to close another $20 million to $30 million round of financing.

“There’s a long list of people looking at the (next investment) offering,” said James A. Kohlberg, the company’s chairman and principal investor, responsible for the majority of the $11 million investment. “I’m pretty confident.”

http://portland.bizjournals.com/portland/stories/2009/05/18/story2.html

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