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Sun Catalytix raises USD3m seed funding
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Editorial
Tue Nov 24 2009, 10:42 AM UTC
Massachusetts-based Sun Catalytix has raised USD3m in a seed funding round from Polaris Venture Partners. The firm is working on technology developed by Massachusetts Institute of Technology professor Daniel Nocera, who claims to have developed a cheap catalyst that can split water into hydrogen and oxygen at room temperature. The hydrogen produced could be burned or used with a fuel cell to generate electricity. Nocera says powering the electrolyser with solar panels could be a cost-effective way of storing solar energy.
Deal Details
- Status completed
- Amount US$3m
- Investor Polaris Venture Partners
Sun Catalyix hopes to raise a Series A funding round next year.
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