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.
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