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MOUNTAIN VIEW, Calif.-PolyFuel Inc. said it closed an $18.4 million third round of funding. The new funds bring the five-year-old company’s total investments to about $40 million.
The latest funding was led by CDP Capital-Private Equity and includes existing investors Mayfield, Ventures West, Technology Partners, Intel Capital and Chrysalix Energy, as well as five new investors.
The company develops portable fuel cells, which have the potential to become a power source for mobile devices.
