VC Funding Update: Relion Inc. Completes Its Series of C Round Financing

(NewsVisual, powered by IntellectSpace) -- Although Exxon Mobile Corp (NYSE: XOM) could very well be the most profitable company in America, future generations are going to need a more greenish company like Relion Inc. if the planet earth is to survive for them, and that’s why it’s good news that this forward-looking company received a new round of venture-capital funding.

Relion Inc. is a Spokane, Wash.-based company that specializes in providing fuel-cell solutions for backup power applications.  In particular, the company develops and markets a line of modular Proton Exchange Membrane (PEM) fuel cell products.

The company announced this week that it received $23 million in equity financing from venture-capital firms the PCG Clean Energy & Technology Fund, LLC of La Jolla, Calif., and Robeco Clean Tech Private Equity II of Rotterdam, Netherlands.

This completes Relion’s Series C round of financing.

“We are pleased to welcome the PCG Clean Energy & Technology Fund and Robeco, along with the current investors in supporting ReliOn through it’s continued growth as a maturing fuel cell enterprise,” stated Relion Chairman Mike Sherman, who is also a Managing Director of Chrysalix Energy Venture Capital.

ReliOn CEO/President Gary Flood added the following comments:

“We are very pleased with the completion of this Series C financing, and look forward to the added skills that the PCG Clean Energy & Technology Fund and Robeco will bring to an already strong ReliOn Board of Directors. Jasandra Nyker and Rhea Hamilton are excellent additions to our team, bringing significant international contacts and understanding of our global market focus.”

Click here for an interactive version of IntellectSpace Knowledge Map of Relion Inc.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).