Wednesday, August 20, 2008

Quantum Fuel Systems Gets $19.1M In PIPE

Irvine-based Quantum Fuel Systems Technology, one of the firms behind electric car maker Fisker Automotive, said Wednesday that the firm has raised $19.1 in a registered direct offering from a single, unnamed institutional investor. Name and details of the investor were not released, however the firm said that Merriman Curhan Ford acted as a sole placement agent in the transaction. Quantum Fuel Systems Technologies, which is publicly held on the NASDAQ, is the firm behind the powertrain in high profile electric car maker Fisker Autmotive's hybrid vehicles. Fisker itself is venture backed by Kleiner Perkins Caufield & Byers.