Thursday, April 19, 2007

Superprotonic Gets $16.2M

Pasadena-based Superprotonic, a developer of fuel cell technology based on technology spun out of Caltech, said Wednesday evening that it has raised $16.2M in a Series B financing round. The round was led by US Venture Partners, and also included Dow Venture Capital, CMEA Ventures, Nth Power Technologies, Hydro Technology Ventures, Battelle Ventures, Innovation Valley Partners and OnPoint Technologies. Winston Fu of USVP will join the firm's board of directors in conjunction with the financing. Superprotonic's fuel cell technology is initially targeted at the military, premium and back up power, and auxiliary power units. More information »