PolyFuel Secures $15.6 Million in Financing

August 11, 2002 by Jeff Shepard

PolyFuel Inc. (Menlo Park, CA) announced that it has secured $15.6 million in its second round of financing. The financing round, led by Ventures West Management Inc. (Vancouver, BC), included Chrysalix Energy LP, Intel Capital, Mayfield and Technology Partners.

PolyFuel President and CEO Gregg Semler stated, "We had very clear objectives when we set out to raise this round of money and I am delighted to have achieved them with this group of investment and industry leaders. Together, we can build PolyFuel into a major player in next generation power systems for consumer electronic devices."