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Gencell Raises Us$14.3 Million From A Series Of Institutional International Investors

Apr 29, 2021•over 4 years ago

Amount Raised

$14.3 Million

Description

GenCell Energy, (TASE: GNCL), a leading Israeli-based manufacturer of fuel cell energy solutions, announces a substantial investment in the Company's shares by a group of international institutional investors led by the world's leading banking group BNP Paribas through its investment arm BNP Paribas Energy Transition Fund, together with TDK Ventures and additional investors.

Company Information

Company

Gen Cell Energy

About

GenCell Energy (TASE: GNCL) fuel cell solutions offer affordable, clean power for humanity, enabling businesses to Say No to Diesel and render diesel generators obsolete. Using ultra-reliable fuel cell technology that powers spacecraft, we deliver backup power for utilities, homeland security, healthcare and automated industries. Our revolutionary process to create hydrogen-on-demand from anhydrous ammonia (NH3) enables our fuel cell solutions to also provide primary power for off-grid and poor-grid sites, as well as rural electrification. GenCell Energy numbers more than 90 employees, including veterans of space and submarine projects. The company is headquartered in Israel with a worldwide distribution and support network and retains unique intellectual property that includes patents, trade secrets and know-how.

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