UltraCell Corp, of Livermore, Calif, a maker of micro fuel cell systems for portable devices such as satellite phones, radios and laptop computers, has raised $10.3 million in a third round of funding.
BASF Venture Capital, the venture arm of BASF, the large chemical company of Ludwigshafen, Germany, provided $3 million. UltraCell will use proceeds from the financing round to ramp up production, expand worldwide sales and marketing, and for the development of its fuel cell systems, which are designed to allow devices run for long periods of time without recharging.
According to the statement:
UltraCell was founded in 2002 and has currently 45 employees. Its fuel cell system uses a pioneering micro reformer, which generates hydrogen from methanol. This reformed methanol system can yield, with the same cell size, twice the power of comparable lithium batteries. For example, a laptop powered by an UltraCell fuel cell can run two to three times longer than a laptop powered by a conventional battery, thus providing more convenience for outdoor use.
(Originally posted 1/30)