Ultracell
Company

Last deal

$3.8M

Amount

Venture - Series Unknown

Stage

27.05.2009

Date

1

all rounds

$3.8M

Total amount

date founded

Financing round

General

About Company
UltraCell commercializes advanced RMFC technology to provide clean renewable energy to power portable electronics.

Industry

Sector :

Subsector :

founded date

01.01.2002

Number of employees

Company Type

For Profit

Last funding type

Venture - Series Unknown

IPO status

Private

Description

The company develops and sells integrated lightweight fuel cell systems for the portable power market, using an advanced reformed methanol micro fuel cell (RMFC) technology. Their flagship product, the Ultracell XX25, is the only system to have undergone extensive Military Specification qualification testing and field trials, and is NATO-approved. UltraCell provides the military and security agencies with clean, renewable energy fuel cells and other accessories.
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M&A Details
1

Acquired by

Advent Technologies

announced date

22.02.2021

Financials

Funding Rounds
1
1

Number of Funding Rounds

$3.8M

Money Raised

Their latest funding was raised on 27.05.2009. Their latest investor Miami Valley Venture Fund. Their latest round Venture - Series Unknown

Date 
Funding Round 
Investors 
Money Raised 
Lead 
Miami Valley Venture Fund

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The Miami Valley Venture Fund is an early stage investment firm specializing in various industries such as aerospace and automotive.

Sector

Investment Banking and Brokerage Services

Subsector

Asset Managers and Custodians

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Financial Services, Venture Capital, Automotive

Location

Dayton, OH, USA

count Of Investments

3

count Of Exists

1
Co-Investors
Investors
4
1

Number of lead investors

4

Number of investors

Investor 
Lead 
Round 
Partners 
Yes
Venture - Series Unknown
No
Venture - Series Unknown
Miami Valley Venture Fund

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Pedro Ribeiro Santos

Pedro Ribeiro Santos

Pedro Ribeiro Santos is a Partner at Armilar Venture Partners, serving on its Board and its Investment Committee, as well as on the Board of a number of its portfolio companies. Pedro has a BSc in Physics Engineering from Instituto Superior Técnico. He started his career as a Researcher in Physics for the University of Oxford (UK), and holds an MBA and an MSc in Economics from Universidade Nova de Lisboa. He has over 12 years of prior experience in Technology, Management and Strategy Consulting, with Accenture and with The Boston Consulting Group, and 2 years as IT and Organizational Director at a large CPG company.

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WalliD
WalliD

People

Founders
2
Norm Allen
Norm Allen

Norm Allen

current job

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NanoFlex Power

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1

Norm Allen

James Kaschmitter
James Kaschmitter

James Kaschmitter

James L. Kaschmitter, Jim founded UltraCell Corporation in 2002 and also has been its President since 2002. Mr. Kaschmitter served as the Chief Executive Officer of UltraCell from 2002 to April 2008. In 1997, he founded PowerStor Corporation. Since 1993, Mr. Kaschmitter was a Co-founder and served as Chief Executive Officer of PolyStor Corporation. In 1987, he Co-founded and served as Vice President of Engineering at nChip Corporation where he led the development of internally developed process equipment engineering, computer-aided design, and new test methodologies for nChip's multi-chip modules. Prior to nChip, he was at Lawrence Livermore National Laboratory (LLNL) for more than nine years, where he held a variety of management and engineering level positions, including power systems responsibility for SDIO's Brilliant Pebbles project. He served as Chairman of UltraCell Corporation since 2002 and also served as its Director. He holds more than 20 patents. Mr. Kaschmitter holds a M.S. in Electrical Engineering from Stanford University and has a B.S. in Physics from the University of Utah. He enjoys flying, reading, and any types of outside activities.

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SpectraPower
SpectraPower

organization founded

2

James Kaschmitter

Employee Profiles
5

Ian Kaye

CTO

James Kaschmitter

James Kaschmitter

CEO and Founder

Norm Allen

Norm Allen

Founder and COO

Activity

Recent News
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