Nimbus Power Systems, a Groton, CT-based developer of fuel cell technologies for heavy-duty vehicles, raised an undisclosed amount in funding.
The round was led by Connecticut Innovations, with participation from additional investors.
The company intends to use the funds to accelerate the development and demonstration of its zero-emission fuel cell engine.
Led by CEO Michael Gorman, Nimbus Power System develops zero-emission, fuel cell systems for mobility and stationary power markets aiming to provide zero-emission replacements for heavy-duty engines currently serving these markets. The company’s fuel cell engine is engineered to deliver higher efficiencies and lower emissions, compared to traditional diesel engines, addressing a critical need in the transportation industry’s push toward decarbonization. With this capital infusion, Nimbus will focus on scaling its technology and preparing to showcase the viability and performance of its zero-emission fuel cell engine and its ability to reduce emissions in the heavy-duty transport market.
FinSMEs
08/11/2024