ClearEdge Power received a $1 million investment, a sign that the fuel cell market is picking up speed.
Southern California Gas Co invested in the Hillsboro-based fuel cell company to demonstrate a commitment to alternative fuel sources.
If the fuel cell market continues to pick up speed, ClearEdge could very well be a candidate for an initial public offering of stock. In addition to the $1 million from SoCalGas, ClearEdge closed on $25 million in private investment in 2010 and is seeking another round with the help of Goldman Sachs.
"It's really catching fire and picking up speed," [CEO Russell] Ford said of fuel cell technology. "It's like the microwave. People used to be skeptical of it, but now you can't walk into a house without seeing one."
Read more at Sustainable Business Oregon.
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