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Fuel cell firm ClearEdge lands USD74m
ClearEdge Power has raised USD73.5m in a Series E funding round led by Artis Capital Management. Gussing Renewable Energy, Southern California Gas Company and existing investor Kohlberg Ventures also participated in the round. The Oregon-based firm has developed a CHP (combined heat and power) system that runs on natural gas. Rather than burning gas, the system converts it into hydrogen, which is then processed through a fuel cell stack to generate heat and electricity. The ClearEdge5 System costs around USD50,000 and has a 5kW capacity.
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