Cell Impact raises $20m in funding round

Cell Impact raises $20m in funding round

Cell Impact has raised SEK 175m ($20m) for its new factory in Sweden that will manufacture hydrogen bipolar flow plates.

Announced today, the investment came from several large financial institutions including BNP Paribas Energy Transition Fund, DNB Asset Management and Cicero Fonder.

Paer Teike, CEO of Cell Impact, commented, “The result of the share issue exceeds our expectations.”

“This is a strong confirmation that hydrogen powered fuel cells is recognised as a key contributor to decarbonisation and we are obviously very happy to see the confidence placed in Cell Impact and our plan for the future, which aims at establishing Cell Impact as a leading supplier to the fuel cell industry

Read more: Cell Impact: A novel production method for flow plates

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