Platinum-Free Membrane Fuel Cell developer CellEra Inc. has raised $2 million in its second financing round from Israel Cleantech Ventures Funds and German fund Brains to Ventures AG (B2V).
CellEra CEO Ziv Gottesfeld, CTO Shimshon Gottesfeld, and VP R&D Dario Dekel founded the Caesarea-based company in 2007. It is developing low temperature fuel cells for storage and backup of power systems, such as mobile communications systems and databases. The fuel cells are aimed at replacing batteries and diesel generators. An added value of the company's fuel cells is that they are not based on platinum and other expensive materials, which the company says cuts the fuel cells' cost by 70% compared with fuel cells now on the market.
CellEra is a first mover in the development and commercialization of disruptive Platinum-Free Membrane Fuel Cell (PFM-FC) technology. PFM-FC is targeted at breaking the cost barrier to mass market commercialization of low temperature fuel cells, for both stationary and automotive applications.
In 2009, CellEra also received funding from the BIRD Foundation. BIRD is an acronym for Israel-U.S. Binational Industrial Research and Development. The BIRD Foundation's mission is to stimulate, promote and support industrial R&D of mutual benefit to the U.S. and Israel.
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