Company Amount Secured Date Type of Financing Investment Partner_s

Document Sample
Company Amount Secured Date Type of Financing Investment Partner_s Powered By Docstoc
					                                                   Updated 7/08




                        Amount
                        Secured                          Type of         Investment         Application of
     Company                             Date
                           (in US                       Financing         Partner(s)          Funding
                          dollars)
                                                                                           Completion of the full
                                                                                           design, assembly and
                                                            Private
   Alternate Energy                      Spring                          Five accredited    testing of hydrogen
                        $1.5 million                     Placement
  Corporation (AEC)                      2005                               investors            production
                                                          financing
                                                                                            demonstration units

                                                            Private
   Alternate Energy                      Winter                            Institutional
                         $530,000                        Placement                         Hydrogen production
  Corporation (AEC)                      2004                               investors
                                                          financing
                                                                                           To advance its work
                                                                          VantagePoint
                                                        Private equity                        on high energy
  Angstrom Power        $18 million    Fall 2006                            Venture
                                                          financing                           density micro-
                                                                            Partners
                                                                                           structured fuel cells
                                                            Private         Alternate
                                        Summer                                             Pre-commercial fuel
    Astris Energi        $500,000                        Placement           Energy
                                         2004                                               cell development
                                                          financing        Corporation
                                                                            Enterprise
  Avista Labs (now                                          Equity
                        $5 million      Fall 2003                            Partners      Telecommunications
       ReliOn)                                            financing
                                                                         Venture Capital
                                                                            Chrysalix
                                                                          Energy, Wall
  Avista Labs (now                      Summer          Independent           Street          Premium power
                        $7.5 million
       ReliOn)                           2003             financing        Technology            market
                                                                         Partners, Buerk
                                                                           Craig Victor
                                                                           RBC Capital
                                                                         Markets, CIBC
                                                                         World Markets,
                                                                          BMO Nesbitt
                          $100           Winter             Equity                          Planned operations
Ballard Power Systems                                                    Burns, National
                          million        2002             Financing                            beyond 2007
                                                                         Bank Financial,
                                                                          TD Securities,
                                                                          UBS Bunting
                                                                             Warburg
                                                                            Earlybird
                                                                         Venture Capital
                                                                                            Methanol fuel cell-
                                         Spring                            and Silicon
    Clean Mobile        $5.1 million                       Funding                          powered drives for
                                          2008                                Valley
                                                                                              small vehicles
                                                                           Technology
                                                                              Group
                                                                                               Double the
                                                            Private                           manufacturing
                          $87.8          Winter
    ECD Ovonics                                          Placement                          capacity of United
                          million      2004/2005
                                                          financing                          Solar Ovonics'
                                                                                            products, general
                                                                                  corporate purposes,
                                                                                   including research
                                                                                    and development
                                                                                       investments



                                                                  Secured
                                                    Private     convertible
   Electric Fuel                      Winter                                        Zinc-air fuel cell
                      $3.5 million               Placement    debenture with
   Corporation                        2003                                            technology
                                                  financing   three institional
                                                                 investors
                                                                  Satellite
                                                                 Strategic
                                                                  Finance           To fund corporate
                                                                Associates,          operations and
                                                    Private
                        $14.2         Spring                      LLC and         commercialization of
      Ener1                                      Placement
                        million        2005                       Satellite        the company's key
                                                  financing
                                                                 Strategic            technologies.
                                                                  Finance
                                                               Partners, Ltd.

                                                                Labrador
                                                                Ventures,
                                      Spring
EoPlex Technologies   $8 million                                 Draper-          Fuel cell components
                                       2007
                                                              Richards and
                                                              ATA Ventures
                                                               Connecticut
                                     Summer                                        Capital equipment
GenCell Corporation    $450,000                               Clean Energy
                                      2003                                             and staff
                                                                  Fund
                                                               Mellon HBV,
                                                                  Arete,
                                                               @Ventures,              To develop
                                                                 Calvert,         a larger HGM 10000
                                                                Commons                 unit and to
                                                                 Capital,          commercialize the
                        $10.6        Summer                     Chrysalix,         company's MARS
      H2Gen
                        million       2006                    Hydrogenica         system for purifying
                                                              Partners, Nth         streams of waste
                                                               Power and             hydrogen from
                                                                Southern                 industrial
                                                                California              processes
                                                              Gas Company

                                                               @Ventures,
                                                                Southern
                                                              California Gas
                                                  Private
                                                              Company and           Production of pre-
      H2Gen           $9.6 million   Fall 2004     capital
                                                                  Itochu          commercial machines
                                                  funding
                                                               Corporation,
                                                                Arete, Nth
                                                                 Power,
                                                                  Hydrogenica
                                                                    Partners,
                                                                   Chrysalix,
                                                                   Commons
                                                                 Capital, Calvert
                                                                 Funds and Air
                                                                  Products and
                                                                 Chemicals, Inc.
                                                                                         To increase
                                                                                     international sales
                                                                                             and
                           $6.3 million                                              marketing activities
Heliocentris Fuel Cells       (4.35       Winter     Private       Innovator          and continue and
         AG                  million      2007     Placement     Capital Limited    expand the scope of
                             EURO)                                                  ongoing work in high-
                                                                                    performance fuel cell
                                                                                        and hydrogen
                                                                                      system solutions.
    Hydra Fuel Cell
 (subsidiary of American                  Spring                   St. George          To respond to
                           $2 million
Security Resources Corp.                   2008                     Funding           purchase orders.
         (ARSC)
                                                                                     To accelerate and
                                                                                    expand commercial
                             $25.8        Spring     Private                         demonstration and
HydroGen Corporation                                              Piper Jaffray
                             million       2006    Placement                               advanced
                                                                                        manufacturing
                                                                                           activities.
                                                                                           Business
Hydrogen Technologies
                                          Spring     Private                          development and
     Corporation           $3.6 million
                                           2005    Placement                         working capital for
                                                                                     ongoing operations
                                                                                        To deepen the
                                                                                        position of the
                                                                                      company's line of
                                                   New venture                       hydrogen purifiers
                                          Summer
   Hy9 Corporation         $2.3 million               capital                       and reformers in the
                                           2006
                                                   investments                        fuel cell and ultra-
                                                                                    high-purity hydrogen
                                                                                           markets.

                                                                  MHI Energy         For development of
                                                    Series B     Partners and a       laminar flow micro
                                          Summer
INI Power Systems, Inc.    $4 million                 Equity       series of         fuel cells for military
                                           2007
                                                    Financing        private            and consumer
                                                                   investors              electronics.
                             $13.6        Summer      Private                       To further develop its
   Intelligent Energy                                                  N/A
                             million       2008     financing                       fuel cell applications.
                                                                 Credit Suisse
                                          Summer     Private       Securities       To further develop its
   Intelligent Energy      $17 million
                                           2007    Placements      (Europe)         fuel cell applications.
                                                                 Limited, Black
                                                                     River
                                                                 Commodity
                                                                Clean Energy
                                                                  Investment
                                                                  Fund LLC,
                                                                 Black River
                                                                Global Equity
                                                                Fund Limited,
                                                                Meditor Capital
                                                                 Management
                                                                 Limited and
                                                                   Evolution
                                                                 Placements
                                                                 Corporation

                                                                  MDV-Mohr
                                                                   Davidow         Expand research and
                                                                  Ventures,         development and
                                       Spring     New venture      Venrock             accelerate
Jadoo Power Systems    $11 million
                                        2005       financing    Associates and         its product
                                                                   Sinclair           development
                                                                  Broadcast             roadmap
                                                                    Group

                                                                Atlas Ventures,
                                                                Kleiner Perkins
                                                                   Caufield &
                                       Winter                       Byers,           Butane-powered
 Lilliputian Systems   $18 million                 Funding
                                       2007                        Rockport           micro fuel cells
                                                                    Capital
                                                                 Partners, and
                                                                 DAG Capital

                                                                  Chrysalix             Expand the
                                                                Energy Limited          company’s
                                                   Series A
LynnTech Industries,                  Summer                     Partnership,          development
                       $5.5 million                  equity
       Inc.                            2004                       Braemar             capabilities and
                                                   financing
                                                                   Energy              service/sales
                                                                Ventures, Altira        operations

                                                                Through sale of           Consumer
                                                     Private
                                       Spring                     debentures         electronics, standby
   Millennium Cell     $10 million                Placement
                                        2004                    convertible into        power, military
                                                   financing
                                                                common stock            portable power
                                        Winter                   The Nutmeg            To reach critical
   NanoLogix Inc.       $750,000
                                      2005/2006                     Group                 milestones
                                                                 The Quercus           To complete the
                                                                 Trust, Ardour        development of its
                                                   Series A
                                        Winter                      Capital        field-deployable Solar
Nanoptek Corporation   $4.7 million                  equity
                                      2007/2008                  Investments,      Hydrogen Generator,
                                                   financing
                                                                   LLC, the              develop pilot
                                                                Massachusetts           manufacturing
                                                                 Technology        capability, and install
                                                                Collaborative      the first pilot plant for
                                                                  (MTC) and          producing carbon-
                                                                     private           free hydrogen.
                                                                   investors.
                                                                     Castile
                                                                   Ventures,
                                                                                      Support the
                                                                    WestAM,
                                                                                       company's
                                                                     Frazier
                                   Summer          Equity                           development and
Neah Power Systems   $12 million                                 Technology
                                    2004          funding                           commercialization
                                                                Ventures, Alta
                                                                                        programs
                                                                Partners and
                                                                 Intel Capital

                                                                Sequoia Capital,
                                                                                    Targeting material
                                                                DAG Ventures,
                                                                                     handling vehicle
                                    Spring                         McKenna
  Oorja Protonics    $21 million                                                   market with its direct
                                     2008                        Management
                                                                                    methanol fuel cell
                                                                  and Spring
                                                                                       technology.
                                                                   Ventures
                                                                     Through
                                                                                    To establish a new
                                                                 assumption of
                                                                                     laboratory at the
                                                                  redeemable
                                                                                        University of
 Pacific Fuel Cell                 Summer                          convertible
                     $1 million                                                    California-Riverside’s
Corporation (PFCE)                  2004                           debentures
                                                                                   University Research
                                                                 from a private
                                                                                        Park, carbon
                                                                   investment
                                                                                    nanotube fuel cell.
                                                                       fund.
                                                                     Citigroup
                                                                Global Markets
                       $58.5                     Common          and Stephens
    Plug Power                     Fall 2003                                       R&D, manufacturing
                       million                 stock offering          Inc. –
                                                                    placement
                                                                      agents
                                                                  CDP Capital-
                                                                Private Equity,
                                                                     Mayfield,
                                                                Ventures West,
                                                                   Technology
                                                                 Partners, Intel
                                                                     Capital,
                                                                    Chrysalix
                                                                                   Direct methanol fuel
                       $18.4       Summer                            Energy,
   PolyFuel, Inc.                                                                   cell technology –
                       million      2004                             Conduit
                                                                                       membranes
                                                                Ventures, KTB
                                                                    Ventures,
                                                                Hotung Venture
                                                                    Partners,
                                                                     Yasuda
                                                                    Enterprise
                                                                 Development
                                                                  and BiNEXT.
                                                                    Ventures West,
                                                                       Chrysalix
                                                                     Energy, Intel
                            $15.6       Summer                                         Direct methanol fuel
    PolyFuel, Inc.                                                      Capital,
                            million      2002                                             cell technology
                                                                     Mayfield and
                                                                      Technology
                                                                        Partners
                                                                         SOMO
                                                                    Petroleum Co.,
                                                                       Ltd., and           To support
                                        Summer        Private
Power Air Corporation     $5 million                                  Jahong Hur,       commercialization
                                         2007       Placement
                                                                    President, CEO          program
                                                                    and Founder of
                                                                     H-Plus Group
                                                                        Conduit
                                                                     Ventures Ltd.,
                                                                    SAS Investors,
                                                                        Solstice
                                                                        Capital,          Further develop
                                                                       Commons           Protonex's patent-
                                                                    Capital, Parker       pending fuel cell
Protonex Technology                      Spring     Institutional       Hannifin           technology, to
                          $9 million
    Corporation                           2005        funding         Corporation,      commercialize and
                                                                       Contango        launch products, and
                                                                        Capital            to expand the
                                                                     Management        company's operations
                                                                        and the
                                                                    Massachusetts
                                                                     Green Energy
                                                                          Fund
                                                                        Conduit
                                                                    Ventures, Ltd.,
Protonex Technology                      Spring     Early stage     SAS Investors,
                             N/a                                                        Portable fuel cells
    Corporation                           2004       financing      Solstice Capital
                                                                    and Commons
                                                                        Capital
                                                                                         Gas purification
QuestAir Technologies     $7 million    Fall 2002   Equity Stake    Shell Hydrogen
                                                                                           technology
                                                                     PCG Clean
                                                                       Energy &
                                                                                           Will be used to
                                                                     Technology
                                                                                        accelerate the sales
                                                                      Fund, LLC,
                                                                                        and marketing of its
                                                                    Robeco Clean
                                                                                            fuel cells, and
                                                                     Tech Private
                                                     Series C                          continued technology
ReliOn (formerly Avista                  Spring                     Equity II, Oak
                          $23 million                 Round                                innovation and
         Labs)                            2008                        Investment
                                                     Financing                            development for
                                                                       Partners,
                                                                                            future product
                                                                       Enterprise
                                                                                         technologies and
                                                                        Partners
                                                                                             applications.
                                                                        Venture
                                                                     Capital, Wall
                                                                         Street
                                                                    Technology
                                                                     Partners,
                                                                     Chrysalix
                                                                  Energy Venture
                                                                   Capital, Buerk
                                                                    Dale Victor,
                                                                    and Avista
                                                                      Corp.

                                                                  Oak Investment
                                                                     Partners,
                                                                    Enterprise
                                                                     Partners
                                                                     Venture
                                                                   Capital, Wall
                                                                                    Increase engineering,
ReliOn (formerly Avista                                Equity         Street
                          $25 million    Fall 2004                                   sales, and marketing
         Labs)                                       financing     Technology
                                                                                          resources
                                                                     Partners,
                                                                     Chrysalix
                                                                   Energy, and
                                                                   Buerk Dale
                                                                    Victor, and
                                                                   Avista Corp.
                                                                                      This investment
                                                                                       will be used to
                                                                                           continue
                                                                    Standard         manufacturing the
                                                                   Renewable        KH4 integrated fuel
                                          Winter       Equity
      Trulite Inc.        $1.2 million                            Energy Group      cell, to continue the
                                          2007       financing
                                                                      LLC            commercialization
                                                                                    process of the KH4
                                                                                    and for new product
                                                                                       development.

                                         Summer        Equity        FuelCell         Solid oxide fuel cell
Versa Power Systems       $2 million
                                          2003       investment      Energy                technology
                                                                                         Execute on its
                                                                                         strategic plan,
                                                                                    including the planned
                            $23.8         Winter       Private    Cornell Capital    expansion of its fuel
       Viaspace
                            million       2006       financing      Partners         cell subsidiary Direct
                                                                                      Methanol Fuel Cell
                                                                                          Corporation
                                                                                           (DMFCC).
                                                                  BASF Venture
                                                                  Capital GmbH,
                                                                       SAM
                                                                                    Rechargeable Zinc-
                                          Winter      Venture      Sustainable
    ZOXY Energy           $5.3 million                                                 air fuel cells,
                                          2003        capital         Asset
                                                                                     electrocatalysts
                                                                  Management,
                                                                   BW-Venture
                                                                  Capital GmbH
                                                Updated 10/09



                                                Updated 2/10



                        Amount
                        Secured                        Type of         Investment         Application of
     Company                             Date
                           (in US                     Financing         Partner(s)          Funding
                          dollars)
                                                                       CT Investment
                                                                        Partners LLP,
                                                                         Rising Stars    Development of low
                                                                        Growth Fund          cost fuel cell
                                                                           (RSGF),       systems, based on
                                         Winter          Venture
    ACAL Energy         $4.6 million                                  NorthStar Equity   its novel platinum-
                                         2008           financing
                                                                        Investors Ltd,       free cathode
                                                                       Porton Capital         technology
                                                                      Ltd and Synergis      (FlowCath®).
                                                                        Technologies
                                                                       Ltd, Solvay SA
                                                                                          Completion of the
                                                                                              full design,
                                                          Private                           assembly and
   Alternate Energy                      Spring                       Five accredited
                        $1.5 million                   Placement                         testing of hydrogen
  Corporation (AEC)                      2005                            investors
                                                        financing                             production
                                                                                         demonstration units

                                                          Private
   Alternate Energy                      Winter                         Institutional         Hydrogen
                         $530,000                      Placement
  Corporation (AEC)                      2004                            investors            production
                                                        financing
                                                                                         To advance its work
                                                     Private equity    VantagePoint         on high energy
  Angstrom Power        $18 million    Fall 2006
                                                       financing      Venture Partners      density micro-
                                                                                         structured fuel cells
                                                          Private
                                        Summer                        Alternate Energy   Pre-commercial fuel
    Astris Energi        $500,000                      Placement
                                         2004                            Corporation      cell development
                                                        financing
                                                                         Enterprise
  Avista Labs (now                                        Equity
                        $5 million      Fall 2003                     Partners Venture   Telecommunications
       ReliOn)                                          financing
                                                                           Capital
                                                                          Chrysalix
                                                                        Energy, Wall
  Avista Labs (now                      Summer        Independent          Street          Premium power
                        $7.5 million
       ReliOn)                           2003           financing       Technology            market
                                                                      Partners, Buerk
                                                                        Craig Victor
                                                                        RBC Capital
                                                                       Markets, CIBC
                                                                       World Markets,
                                                                        BMO Nesbitt
                                                                                         Planned operations
                          $100           Winter          Equity        Burns, National
Ballard Power Systems                                                                       beyond 2007
                          million        2002          Financing       Bank Financial,
                                                                       TD Securities,
                                                                        UBS Bunting
                                                                          Warburg
                                                                 Earlybird
                                                              Venture Capital
                                                                                  Methanol fuel cell-
                                      Spring                    and Silicon
   Clean Mobile       $5.1 million                Funding                         powered drives for
                                       2008                       Valley
                                                                                    small vehicles
                                                               Technology
                                                                  Group
                                                                                        Double the
                                                                                     manufacturing
                                                                                   capacity of United
                                                                                     Solar Ovonics'
                                                    Private                         products, general
                        $87.8          Winter
   ECD Ovonics                                   Placement                        corporate purposes,
                        million      2004/2005
                                                  financing                        including research
                                                                                    and development
                                                                                       investments



                                                                   Secured
                                                    Private      convertible
   Electric Fuel                      Winter                                        Zinc-air fuel cell
                      $3.5 million               Placement     debenture with
   Corporation                        2003                                            technology
                                                  financing   three institional
                                                                  investors
                                                                   Satellite
                                                                  Strategic
                                                                                    To fund corporate
                                                                   Finance
                                                                                     operations and
                                                    Private   Associates, LLC
                        $14.2         Spring                                      commercialization of
      Ener1                                      Placement      and Satellite
                        million        2005                                        the company's key
                                                  financing       Strategic
                                                                                      technologies.
                                                                   Finance
                                                                Partners, Ltd.

                                                                  Labrador
                                                                 Ventures,
                                      Spring                                            Fuel cell
EoPlex Technologies   $8 million                              Draper-Richards
                                       2007                                           components
                                                                  and ATA
                                                                  Ventures
                                                                Connecticut
                                     Summer                                        Capital equipment
GenCell Corporation    $450,000                                Clean Energy
                                      2003                                             and staff
                                                                    Fund
                                                                Mellon HBV,
                                                                    Arete,
                                                                @Ventures,
                                                                                       To develop
                                                                   Calvert,
                                                                                  a larger HGM 10000
                                                                 Commons
                                                                                        unit and to
                                                                   Capital,
                                                                                   commercialize the
                                                                 Chrysalix,
                        $10.6        Summer                                        company's MARS
      H2Gen                                                     Hydrogenica
                        million       2006                                        system for purifying
                                                               Partners, Nth
                                                                                    streams of waste
                                                                 Power and
                                                                                     hydrogen from
                                                                  Southern
                                                                                         industrial
                                                                 California
                                                                                        processes
                                                               Gas Company
                                                                     @Ventures,
                                                                       Southern
                                                                    California Gas
                                                                    Company and
                                                                        Itochu
                                                                     Corporation,
                                                                      Arete, Nth
                                                        Private                          Production of pre-
                                                                        Power,
        H2Gen              $9.6 million   Fall 2004      capital                            commercial
                                                                     Hydrogenica
                                                        funding                              machines
                                                                       Partners,
                                                                      Chrysalix,
                                                                      Commons
                                                                    Capital, Calvert
                                                                    Funds and Air
                                                                     Products and
                                                                    Chemicals, Inc.
                                                                                             To increase
                                                                                         international sales
                                                                                                  and
                                                                                        marketing activities
                           $6.3 million
                                                                                          and continue and
Heliocentris Fuel Cells       (4.35        Winter       Private       Innovator
                                                                                        expand the scope of
         AG                  million       2007       Placement     Capital Limited
                                                                                           ongoing work in
                             EURO)
                                                                                          high-performance
                                                                                             fuel cell and
                                                                                               hydrogen
                                                                                          system solutions.
    Hydra Fuel Cell
 (subsidiary of American                   Spring                     St. George          To respond to
                           $2 million
Security Resources Corp.                    2008                       Funding           purchase orders.
         (ARSC)
                                                                                         To accelerate and
                                                                                        expand commercial
                             $25.8         Spring       Private                          demonstration and
HydroGen Corporation                                                 Piper Jaffray
                             million        2006      Placement                                advanced
                                                                                            manufacturing
                                                                                               activities.
                                                                                               Business
Hydrogen Technologies
                                           Spring       Private                           development and
     Corporation           $3.6 million
                                            2005      Placement                          working capital for
                                                                                         ongoing operations
                                                                                            To deepen the
                                                                                            position of the
                                                                                          company's line of
                                                      New venture                        hydrogen purifiers
                                          Summer
   Hy9 Corporation         $2.3 million                  capital                        and reformers in the
                                           2006
                                                      investments                         fuel cell and ultra-
                                                                                        high-purity hydrogen
                                                                                               markets.

                                                                                        For development of
                                                                      MHI Energy
                                                       Series B                          laminar flow micro
                                          Summer                    Partners and a
INI Power Systems, Inc.    $4 million                    Equity                         fuel cells for military
                                           2007                     series of private
                                                       Financing                           and consumer
                                                                        investors
                                                                                             electronics.
                                                                                    To further develop
                         $13.6        Summer         Private
  Intelligent Energy                                                  N/A               its fuel cell
                         million       2008        financing
                                                                                      applications.
                                                                  Credit Suisse
                                                                    Securities
                                                                    (Europe)
                                                                  Limited, Black
                                                                      River
                                                                   Commodity
                                                                  Clean Energy
                                                                Investment Fund     To further develop
                                      Summer        Private
  Intelligent Energy   $17 million                              LLC, Black River        its fuel cell
                                       2007       Placements
                                                                  Global Equity       applications.
                                                                  Fund Limited,
                                                                 Meditor Capital
                                                                  Management
                                                                   Limited and
                                                                    Evolution
                                                                   Placements
                                                                   Corporation

                                                                   MDV-Mohr
                                                                                     Expand research
                                                                    Davidow
                                                                                     and development
                                                                   Ventures,
                                       Spring     New venture                         and accelerate
Jadoo Power Systems    $11 million                                  Venrock
                                        2005       financing                            its product
                                                                 Associates and
                                                                                       development
                                                                    Sinclair
                                                                                         roadmap
                                                                Broadcast Group

                                                                 Atlas Ventures,
                                                                 Kleiner Perkins
                                       Winter                       Caufield &       Butane-powered
 Lilliputian Systems   $18 million                 Funding
                                       2007                     Byers, Rockport       micro fuel cells
                                                                Capital Partners,
                                                                and DAG Capital

                                                                                        Expand the
                                                                Chrysalix Energy
                                                                                        company’s
                                                   Series A         Limited
LynnTech Industries,                  Summer                                           development
                       $5.5 million                  equity       Partnership,
       Inc.                            2004                                           capabilities and
                                                   financing    Braemar Energy
                                                                                       service/sales
                                                                 Ventures, Altira
                                                                                        operations

                                                                Through sale of           Consumer
                                                     Private
                                       Spring                     debentures        electronics, standby
   Millennium Cell     $10 million                Placement
                                        2004                    convertible into       power, military
                                                   financing
                                                                common stock           portable power
                                        Winter                   The Nutmeg           To reach critical
   NanoLogix Inc.       $750,000
                                      2005/2006                     Group                milestones
                                                                 The Quercus          To complete the
                                                                 Trust, Ardour       development of its
                                                   Series A
                                        Winter                      Capital           field-deployable
Nanoptek Corporation   $4.7 million                  equity
                                      2007/2008                  Investments,         Solar Hydrogen
                                                   financing
                                                                   LLC, the         Generator, develop
                                                                Massachusetts       pilot manufacturing
                                                                   Technology          capability, and
                                                                  Collaborative      install the first pilot
                                                                    (MTC) and        plant for producing
                                                                private investors.       carbon-free
                                                                                          hydrogen.
                                                                      Ebeling
                                     Winter
Neah Power Systems   $10 million                                 Heffernan and
                                   2009/2010
                                                                First Equity Trust
                                                                      Castile
                                                                    Ventures,           Support the
                                                                WestAM, Frazier          company's
                                   Summer          Equity          Technology         development and
Neah Power Systems   $12 million
                                    2004          funding        Ventures, Alta       commercialization
                                                                  Partners and           programs
                                                                   Intel Capital

                                                                Sequoia Capital,      Targeting material
                                                                 DAG Ventures,         handling vehicle
                                    Spring
  Oorja Protonics    $21 million                                   McKenna           market with its direct
                                     2008
                                                                Management and        methanol fuel cell
                                                                Spring Ventures          technology.
                                                                                     To establish a new
                                                                     Through
                                                                                       laboratory at the
                                                                  assumption of
                                                                                         University of
                                                                   redeemable
 Pacific Fuel Cell                 Summer                                                 California-
                     $1 million                                     convertible
Corporation (PFCE)                  2004                                                  Riverside’s
                                                                debentures from
                                                                                     University Research
                                                                     a private
                                                                                         Park, carbon
                                                                investment fund.
                                                                                      nanotube fuel cell.
                                                                Citigroup Global
                                                                  Markets and
                       $58.5                     Common
    Plug Power                     Fall 2003                    Stephens Inc. –      R&D, manufacturing
                       million                 stock offering
                                                                   placement
                                                                     agents
                                                                  CDP Capital-
                                                                 Private Equity,
                                                                    Mayfield,
                                                                Ventures West,
                                                                   Technology
                                                                 Partners, Intel
                                                                     Capital,
                                                                    Chrysalix        Direct methanol fuel
                       $18.4       Summer
   PolyFuel, Inc.                                               Energy, Conduit       cell technology –
                       million      2004
                                                                 Ventures, KTB           membranes
                                                                    Ventures,
                                                                Hotung Venture
                                                                    Partners,
                                                                     Yasuda
                                                                   Enterprise
                                                                 Development
                                                                  and BiNEXT.
                                                                Ventures West,
                                                                    Chrysalix
                       $15.6       Summer                                            Direct methanol fuel
   PolyFuel, Inc.                                                 Energy, Intel
                       million      2002                                                cell technology
                                                                Capital, Mayfield
                                                                and Technology
                                                                         Partners


                                                                           SOMO
                                                                      Petroleum Co.,
                                                                     Ltd., and Jahong       To support
                                         Summer        Private
Power Air Corporation     $5 million                                  Hur, President,    commercialization
                                          2007       Placement
                                                                         CEO and             program
                                                                       Founder of H-
                                                                        Plus Group
                                                                         AB Volvo,        advanced fuel cell
                                                                      OCAS, Midroc          systems for the
                                                       Venture
  Powercell Sweden        $7.8 million   Fall 2009                          New           transport industry
                                                       Capital
                                                                        Technology,       and selective high
                                                                     Fouriertransform    technology markets
                                                                        Midroc New
                                                                        Technology,
                                                                     OCAS, Swedish
                                         Summer
  Powercell Sweden        $26 million                                 Energy Agency
                                          2009
                                                                         and Volvo
                                                                        Technology
                                                                          Transfer
                                                                          Conduit
                                                                       Ventures Ltd.,
                                                                      SAS Investors,
                                                                     Solstice Capital,     Further develop
                                                                         Commons         Protonex's patent-
                                                                      Capital, Parker     pending fuel cell
                                                                          Hannifin          technology, to
Protonex Technology                       Spring     Institutional
                          $9 million                                    Corporation,     commercialize and
    Corporation                            2005        funding
                                                                         Contango         launch products,
                                                                           Capital       and to expand the
                                                                       Management             company's
                                                                          and the             operations
                                                                      Massachusetts
                                                                       Green Energy
                                                                            Fund
                                                                          Conduit
                                                                      Ventures, Ltd.,
Protonex Technology                       Spring     Early stage      SAS Investors,
                              N/a                                                         Portable fuel cells
    Corporation                            2004       financing       Solstice Capital
                                                                      and Commons
                                                                           Capital
                                                                                           Gas purification
QuestAir Technologies     $7 million     Fall 2002   Equity Stake    Shell Hydrogen
                                                                                               technology
                                                                       PCG Clean            Will be used to
                                                                         Energy &        accelerate the sales
                                                                       Technology        and marketing of its
                                                                        Fund, LLC,           fuel cells, and
                                                      Series C
ReliOn (formerly Avista                   Spring                      Robeco Clean              continued
                          $23 million                  Round
         Labs)                             2008                        Tech Private            technology
                                                      Financing
                                                                      Equity II, Oak        innovation and
                                                                        Investment         development for
                                                                         Partners,           future product
                                                                         Enterprise       technologies and
                                                                  Partners Venture      applications.
                                                                    Capital, Wall
                                                                       Street
                                                                    Technology
                                                                      Partners,
                                                                  Chrysalix Energy
                                                                  Venture Capital,
                                                                    Buerk Dale
                                                                     Victor, and
                                                                    Avista Corp.

                                                                  Oak Investment
                                                                      Partners,
                                                                     Enterprise
                                                                  Partners Venture
                                                                    Capital, Wall
                                                                                          Increase
                                                                       Street
ReliOn (formerly Avista                                Equity                        engineering, sales,
                          $25 million    Fall 2004                  Technology
         Labs)                                       financing                         and marketing
                                                                      Partners,
                                                                                         resources
                                                                      Chrysalix
                                                                    Energy, and
                                                                    Buerk Dale
                                                                     Victor, and
                                                                    Avista Corp.
                                                                                       This investment
                                                                                        will be used to
                                                                                            continue
                                                                     Standard         manufacturing the
                                                                    Renewable        KH4 integrated fuel
                                          Winter       Equity
      Trulite Inc.        $1.2 million                             Energy Group      cell, to continue the
                                          2007       financing
                                                                       LLC            commercialization
                                                                                     process of the KH4
                                                                                     and for new product
                                                                                        development.

                                         Summer         Equity                       Solid oxide fuel cell
Versa Power Systems       $2 million                              FuelCell Energy
                                          2003       investment                           technology
                                                                                        Execute on its
                                                                                        strategic plan,
                                                                                         including the
                                                                                     planned expansion
                            $23.8         Winter       Private     Cornell Capital
       Viaspace                                                                         of its fuel cell
                            million       2006       financing       Partners
                                                                                      subsidiary Direct
                                                                                     Methanol Fuel Cell
                                                                                          Corporation
                                                                                           (DMFCC).
                                                                   BASF Venture
                                                                   Capital GmbH,
                                                                        SAM
                                                                                     Rechargeable Zinc-
                                          Winter      Venture       Sustainable
    ZOXY Energy           $5.3 million                                                  air fuel cells,
                                          2003        capital          Asset
                                                                                      electrocatalysts
                                                                   Management,
                                                                    BW-Venture
                                                                   Capital GmbH