Issue Date: February 5, 2007
BASF Invests In Fuel-Cell Maker
BASF Venture Capital is investing in Livermore, Calif.-based UltraCell, a five-year-old developer of small fuel-cell systems for portable devices such as phones, radios, and laptops. The company raised $10.3 million in its financing round, $3 million of which was from BASF. UltraCell's fuel cell uses a "micro reformer" to generate hydrogen from methanol. The company boasts that the system yields twice the power of a similar-sized lithium-ion battery. UltraCell is a major customer of Pemeas Fuel Cell Technologies, the former fuel-cell-component arm of Celanese recently acquired by BASF.
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