Nimbus Power Systems – a developer of advanced fuel cell technologies for heavy-duty vehicles – announced the closing of a pre-seed financing round led by Connecticut Innovations (Connecticut’s strategic venture capital arm). This funding will enable Nimbus to accelerate developing and demonstrating its zero-emission heavy-duty fuel cell engine.
This funding round also included participation from additional investors, showing strong support from public and private stakeholders in the clean energy and transportation sectors. And with this capital infusion, Nimbus will focus on scaling its technology and preparing to highlight the viability and performance of its zero-emission fuel cell engine and its ability to reduce emissions in the heavy-duty transport market.
This funding will also be used to advance research and development efforts, expand the team, and initiate pilot projects that will validate the performance and durability of Nimbus’ zero-emission fuel cell technology under real-world operating conditions. And 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.
Nimbus Power Systems is part of a growing ecosystem of clean energy and transportation innovators in Connecticut, supported by initiatives such as Connecticut Innovations’ strategic investments and partnerships. And the company aims to be a key player in the state’s established ecosystem for advanced fuel cell development and deployment.
KEY QUOTES:
“We are pleased to partner with Connecticut Innovations and our strong team of investors as we work to bring our groundbreaking technology to market. This funding will allow us to accelerate our development timeline and demonstrate that our zero-emission fuel cell engine can meet the rigorous demands of heavy-duty applications while significantly reducing greenhouse gas emissions. Nimbus will soon announce demonstration programs, development partners, and other collaborations that will build upon our core technology and products. We are excited to be at the forefront of this clean energy transformation and look forward to collaborating with industry leaders and policymakers to achieve our shared vision of a sustainable future.”
- Michael Gorman, CEO of Nimbus Power Systems
“Nimbus Power Systems is leading the way in creating the next generation of zero-emission fuel cell technology for heavy-duty vehicles. Their innovative approach has the potential to significantly impact the global effort to reduce emissions and combat climate change. We look forward to seeing their technology contribute to a cleaner, more sustainable transportation sector.”
Konstantine Drakonakis, Managing Director of the ClimateTech Fund at Connecticut Innovations
