PEMEAS Receives $21.7M in Financing

April 18, 2004 by Jeff Shepard

PEMEAS Fuel Cell Technologies (Frankfurt, Germany), a provider of membrane electrode assemblies (MEAs) for high-temperature polymer electrolyte membrane (PEM) fuel cells marketed under the brand name Celtec, has received $21.7 million in financing from an investment consortium led by Conduit Ventures. Sustainable Asset Management, CDP Capital and InfraServ GmbH and Co. also participated. Proceeds will be used in development.