Morrisville, N.C.’s INI Power Systems, a developer of methanol-powered fuel cells, said it has raised a $4 million second round of financing .

The round was led by MHI Energy Partners (Calgary, Louisville, Toronto and NYC) and other private
investors.

From the statement:

The additional capital will target the development of the company’s patented laminar flow micro-fuel cells along three product lines: lightweight military applications, consumer/industry portable power and consumer electronics.

The company raised $3 million three years ago from MHI and Illinois Ventures.