GenCell Corporation was a manufacturer of fuel cells and integrated fuel cell power generators. Its hardware platforms offer systematic fuel cell refinement resulting in unique cost-effective fuel cell power generators. GenCell was established in 1997, with a vision to develop a core fuel cell design and manufacturing methods to reduce costs and increase performance for all fuel cell types.
Initially funded by government grants, GenCell had received funding financing from Connecticut Clean Energy Fund to fund a demonstration project at the Global Fuel Cell Development Center at the University of Connecticut. CCEF is administered and managed by Connecticut Innovations, a quasi-public organization.
Carter Morse & Mathias served as Gencell's financial advisor in arranging, structuring and negotiating this transaction.