|By Business Wire||
|February 12, 2014 12:01 PM EST||
Oorja, the world leader in liquid fuel cell technology, today announced the close of a Series E investment round. New investor Mingxin China Growth Fund joined previous backers including DAG Ventures in the oversubscribed round. 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 global fuel cell industry surpassed $1 billion in revenue in 2012, growing from $847.5 million in 2011 to $1.3 billion in 2012.1 The OorjaPac DMFC system is already in use by some of the world’s largest materials handling and telecommunications companies. The investment round follows a $4.2 million purchase order and distribution agreement in Latin America and other recent milestones including:
- A strategic partnership for commercialization and distribution of methanol fuel cells in South Africa with HySA/Catalysis
- A research agreement with Lawrence Berkeley National Lab to develop fuel cells for electric vehicles
- Customer deployments with the company’s long-standing Fortune 50 customers in material handling
"Oorja is the only company in the world with a commercially successful methanol fuel cell for multiple, high-growth applications,” said Tom Goodrich, managing director of DAG Ventures. “The company is well positioned to supply these fuel cells to meet specific needs in multiple global markets including refrigeration, transport and mobile communications infrastructure.”
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.
“Oorja’s Direct Methanol Fuel Cells are the most economical and have the widest variety of global applications of any methanol fuel cell technology on the market, and as costs come down, will compete in the massive global diesel generator markets,” said Mark Louie, managing director of Mingxin China Growth Management. “We are joining a set of world-class investors to back Oorja as the company is primed for rapid growth, particularly in new international markets.”
Customers in the materials handling industry use the OorjaPac as an on-board battery charger for a wide variety of Class 3 vehicles. The OorjaPac keeps the vehicle’s battery at a constant state of charge, eliminating the need for battery swapping and rapid charging. The self-contained, compact OorjaPac requires minimal retrofitting and provides an attractive payback for the Telecommunications market by ensuring uninterrupted power supply and, in some cases, replacing less efficient and high-emissions diesel generators.
Oorja is the world leader in liquid fuel cell technology for the material handling and telecommunication tower industries. Oorja fuel cells utilize a common, abundant and readily-available liquid fuel, methanol. The company’s patented technology provides a high-power solution for multiple applications, allowing customers to lower operating costs while reducing greenhouse gas emissions. The company is headquartered in Fremont, Calif. For more information, visit www.oorjafuelcells.com
1 Navigant Research, Fuel Cells Annual Report 2013
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 20, 2016 03:45 PM EDT Reads: 3,455
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 20, 2016 03:45 PM EDT Reads: 870
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Oct. 20, 2016 03:45 PM EDT Reads: 2,647
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Oct. 20, 2016 03:00 PM EDT Reads: 5,853
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Oct. 20, 2016 03:00 PM EDT Reads: 3,735
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 20, 2016 02:15 PM EDT Reads: 829
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Oct. 20, 2016 02:15 PM EDT Reads: 2,606
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 20, 2016 02:15 PM EDT Reads: 9,553
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 20, 2016 01:45 PM EDT Reads: 10,912
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
Oct. 20, 2016 01:45 PM EDT Reads: 2,122
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 20, 2016 01:45 PM EDT Reads: 7,832
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Oct. 20, 2016 01:30 PM EDT Reads: 5,048
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 20, 2016 01:30 PM EDT Reads: 676
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 20, 2016 01:15 PM EDT Reads: 1,379
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 20, 2016 01:00 PM EDT Reads: 324