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New venture funds should accelerate Virent's work

Madison, Wis. - A $7.5 million round of venture capital should accelerate work into alternative fuel development at Madison's Virent Energy Systems, a University of Wisconsin-Madison spinoff that is working on hydrogen energy sources, according CEO Eric Apfelbach.

The company, which is developing technology to......

Full article >>> said. "This allows us to accelerate that and do some of this in a parallel way instead of in serial mode and on a shoestring budget."

According to Apfelbach, the closest Virent is to commercializing a product is in the area of electricity generation. At the moment, the company is trying to get a beta site for its 10-kilowatt prototype system now running at Madison Gas & Electric. The beta......

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Source:wistechnology.com By Joe Vanden Plas 06/12/06


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