Fuel cell developer CellEra raises $9.2m

Vodafone led the round making its first ever investment in Israel and first ever investment in a cleantech company.

CellEra Inc., which develops cost-effective platinum free fuel cell technology has raised $9.2 million in a financing round led by Vodafone Ventures, the global venture capital arm of Vodafone Group, and Carmel Ventures. This is Vodafone's first ever investment in Israel and also its first ever investment in a cleantech company.

CellEra's CEO Ziv Gottesfeld, CTO Dr. Shimshon Gottesfeld and VP R&D and Engineering Dr. Dario Dekel founded the company in 2007 to provide clean and efficient solutions for storing and converting energy at a significantly lower cost than technologies available on the market.

Since its founding CellEra has raised $13 million from, among others Israel Cleantech Ventures, B-2-V Partners and private investors.

Ziv Gottesfeld told "Globes" that the founders have been working for two years to prove the feasibility of the company's technology. "We are asking to develop new fuel cells that are more efficient and less expensive. What is currently blocking use of fuel cells is the high cost."

He added, "Our prototype is already working at CommScope, a large US communications infrastructure company. Two years ago we began a joint development project through BIRD the Israel US Bi-national R&D Foundation. The development project was recently successfully completed. We are signing a commercialization agreement and working on a commercial prototype."

When is the product expected to be on the market?

"We will begin trials of a prototype next year. We believe that we will be on the market in 2013."

CellEra's product is designed to provide a solution for a permanent supply of energy to cellular transmitters instead of diesel and lead-battery operated generators. The market is worth $3 billion annually.

Published by Globes, Israel business news - www.globes-online.com - on December 19, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

Iranian flag credit: Shutterstock Why inflation haunts Iran

With a month-on-month increase of 3.3% and an annual rate of 37.1%, inflation reflects the struggles of millions of Iranians.

APM merges with lawyers from Doron, Tikotzky Kantor, Gutman credit: Eyal Merilos APM merges with 12 lawyers from Doron, Tikotzky Kantor, Gutman

With the addition of these 12 lawyers, Amit Pollak Matalon & Co. will now have 135 lawyers.

US President Donald Trump credit: Reuters Sipa USA Israel on list as Trump unveils tariffs

Relatively low reciprocal tariffs will be imposed on Israeli goods sold in the US.

Deflated unicorn credit: Shutterstock Big Tech 50 reports more huge falls in startup valuations

Israeli R&D partnership Big Tech 50 reports that an investment of $2 million in Orcam made in 2021, shrank to just $31,000 at the end of 2024.

NextFerm technologies based on yeast credit: NextFerm Food-tech co NextFerm suspends operations

The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef OECD sees recovery in growth but high inflation

The OECD Israel Economic Survey 2025 recommends that the Israeli government take several restraining measures, in order to exit the economic storm created by the war.

Dano Ben-Hur credit: Dror Sithakol Statisticians contradict BoI on impact of housing finance deals

The Central Bureau of Statistics insists the impact of 20/80 buy now pay later financing deals on the real estate market and housing prices is minimal.

Governor of the Bank of Israel Amir Yaron  credit: Government Press Office Debt fears top Bank of Israel's concerns

Most unusually, Governor of the Bank of Israel Amir Yaron's press conference last week did not focus on inflation and the impending interest rate decision.

US President Donald Trump  credit: Reuters/Leah Millis Israel moves to avoid Trump's tariffs axe

Minister of Finance Bezalel Smotrich has signed an order canceling all tariffs on imports from the US. The impact will mostly be on agricultural produce.

Forbes Rich List credit: Shutterstock Maslowski Marcin Wiz founders ranked in Forbes 2025 Rich List

There are a few dozen Israelis listed in the 2025 Forbes Real-Time Billionaires List including Wiz founders Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak.

SatixFy CEO Nir Barkan credit: Ariel Barkan Canada's MDA Space to buy Israeli satcom co SatixFy

MDA Space will pay $269 million for the Israeli company, including taking on a $76 million debt and a 75% premium on SatixFy's closing price on Nasdaq yesterday.

Raising dollars credit: Shutterstock Israeli startups raised over $1b in March

Israeli privately-held tech companies have raised $2.1 billion in the first three months of 2025, according to IVC-LeumiTech, up 24% from the corresponding quarter of 2024.

Terminal 1 credit: Personal image Terminal 1 reopening revives Israel low-cost fare options

With the opening of the terminal for international flights, the Irish low-cost airline Ryanair has returned to Israel and with it, double-digit US dollar round-trip fares.

Arkady Volozh  credit: Shlomi Yosef Analysts see Israel-linked Nebius challenging CoreWeave

Nebius, founded by Yandex founder Arkady Volozh, operates in CoreWeave's AI server market, but is growing "more rationally", and has far less debt.

Bezalel Smotrich and Amir Yaron credit: Knesset Spokesperson and Tali Bogdanovsky Retail chains, credit card cos could soon act as banks

Israel's financial regulators have proposed that supermarket chains, credit card companies and investment houses will be able to accept deposits and offer credit.

Elbit Systems rocket launcher  credit: Elbit Systems Elbit Systems wins $130m European rocket order

The order is for the supply of rockets for Elbit's Precise and Universal Launching System (PULS), which has an effective range of up to 300 kilometers.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018