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News and Information Article
CLEVELAND, July 18 // -- JumpStart Inc., Northeast Ohios
non- profit venture development organization, announced an investment
commitment of $400,000 in Contained Energy, a direct carbon fuel cell
(DCFC) company.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060209/CLJUMPSTARTLOGO )
The company was formed in 2005 to build a fuel cell based on patented
(and patent-pending) technology from Lawrence Livermore National Laboratory
(http://www.llnl.gov).
"The initial application is being developed for the mobile power and
distributed power generation markets," stated Contained Energy CEO, Kevin
Berner. "At present, the Companys prototype is being built at Lawrence
Livermore National Laboratory, with plans to relocate to Ohio during 2006,"
Berner added.
The Mobile Power market segment is made up of any power source that is
not stationary in its application. Within the Mobile Power market,
Contained Energy plans to target applications that require 100W - 5kW of
power, which are currently constrained by low energy density.
"This investment is a great fit for the region," observed JumpStart
CEO, Ray Leach. "Advanced energy technology continues to offer great
promise for Northeast Ohio," Leach concluded.
Executive Director of the Ohio Fuel Cell Coalition
(http://www.fuelcellsohio.org), Ken Alfred, commented, "This is yet another
example that Ohio is the most promising location in the nation for
companies taking the initiative to develop these advanced fuel cell
technologies. The state has the intellectual and financial capital and the
supply chain resources to support technologies that offer great promise for
an ever increasing global demand for alternative energies."
With this investment, Contained Energy becomes JumpStarts 15th
portfolio company and 18th overall investment commitment.
About Contained Energy
Contained Energy is developing direct carbon fuel cells (DCFC) -- fuel
cells that use carbon rather than hydrogen as fuel. DCFCs rely on readily
available carbon fuels, generate distributed power that will be cost
competitive with the grid, and realize considerable environmental benefits
relative to current combustion technologies. Early products will provide
breakthrough energy density for mobile applications. Contained Energy will
shortly transfer its technology to Cleveland, where it will develop its
products at the Wright Fuel Cell Groups facilities
(http://www.wrightfuelcellgroup.org).
About JumpStart Inc.
JumpStart (http://www.jumpstartinc.org) accelerates the growth of early-stage
businesses and ideas into venture-ready companies by delivering vital,
focused resources to entrepreneurs in Northeast Ohio. JumpStart identifies
and invests in early-stage companies that have strong potential in the
marketplace, solid prospects for high growth, and are likely to qualify for
later-stage funding. Beyond investing, the JumpStart team provides a
continuum of business development services to its client companies to help
ensure their success.
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