Oorja’s patented Direct Methanol Fuel Cells (DMFC) are powered by an abundant and readily-available liquid fuel, methanol.
"Oorja has emerged successfully from the wave and subsequent crash in energy tech investing with our Direct Methanol Fuel Cell technology," said Dr. Sanjiv Malhotra, CEO and president of Oorja.
"The continued commitment from international investors is a resounding endorsement of the company’s technical accomplishments, operational successes and vision for global growth into massive addressable markets."
The new funding round will support Oorja’s continued success supplying the OorjaPac to the material handling business. It will also jumpstart Oorja’s expansion into the telecommunications industry for network towers and growth of the company’s global distribution network.
The global fuel cell industry surpassed $1bn in revenue in 2012, growing from $847.5m in 2011 to $1.3bn in 2012. The OorjaPac DMFC system is already in use by some of the world’s largest materials handling and telecommunications companies.
