HyAxiom

{{Infobox company | name = Doosan Fuel Cell America, Inc. | logo = Doosan_EB.jpg | type = Subsidiary | foundation = 2014 | location = South Windsor, Connecticut, USA<br>{{Coord |37.38201|-122.00848| region:US-OR_type:landmark_dim:90 | display=inline,title}} | key_people = Jeff Hyungrak Chung, President and CEO <ref>{{cite web|url=http://www.doosanfuelcell.com/en/corporate/ceo.do |title=CEO |website=doosanfuelcell.com |url-status=dead |archiveurl=https://web.archive.org/web/20150226030753/http://www.doosanfuelcell.com/en/corporate/ceo.do |archivedate=2015-02-26 }}</ref> | products = Fuel cells | industry = Alternative energy | revenue = | operating_income = | net_income = | parent = Doosan Group | divisions = | subsid = | homepage = {{URL|http://www.doosanfuelcellamerica.com/en/}} }} thumb|Headquarters of the former ClearEdge Power, Hillsboro, Oregon '''ClearEdge Power, Inc.''' was a fuel cell manufacturer focusing on the stationary fuel cell. It was headquartered in South Windsor, Connecticut, U.S. The company employed 225 people as of August 2011.<ref name="equity capital"/> It closed its operations in Connecticut in April 2014,<ref name="pre bk">{{cite news|last=Young|first=Molly|title=ClearEdge Power: 'No reasonable option' except pursuing bankruptcy, closing Connecticut operations|url=http://www.oregonlive.com/money/index.ssf/2014/04/clearedge_power_no_reasonable_option_except_pursuing_bankruptcy_closing_connecticut_operations.html#incart_river|accessdate=30 April 2014|newspaper=The Oregonian|date=April 28, 2014}}</ref> and filed for Chapter 11 bankruptcy protection in May 2014.<ref>{{cite news|last=Young|first=Molly|date=May 5, 2014|url=http://www.oregonlive.com/business/index.ssf/2014/05/clearedge_power_files_for_bankruptcy_as_financial_woes_mount.html|accessdate=7 May 2014|newspaper=The Oregonian|title=ClearEdge Power files for bankruptcy as financial woes mount}}</ref><ref>{{Cite news|date=2014-05-02|title=Fuel-Cell Producer ClearEdge Power Files for Bankruptcy|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2014-05-02/fuel-cell-producer-clearedge-power-files-for-bankruptcy|access-date=2021-01-08}}</ref> The company's assets were purchased out of bankruptcy by '''Doosan Fuel Cell America, Inc.'''<ref name=":0" /><ref name=":1">{{Cite web|date=2015-01-30|title=Doosan thriving after ClearEdge purchase|url=https://www.nhregister.com/business/article/Doosan-thriving-after-ClearEdge-purchase-11352295.php|access-date=2021-01-08|website=New Haven Register|language=en-US}}</ref>

==History== ClearEdge Power, Inc. was founded in 2003 as Quantum Leap Technology by Ed Davis and<ref name="hums"/><ref name="name">{{cite news | url=http://portland.bizjournals.com/portland/stories/2005/08/29/daily20.html | title=Quantum Leap Technology changes name | date=August 31, 2005 | work=Portland Business Journal | accessdate=18 February 2010 }}</ref> after Brett Vinsant and Ed Davis created the company's fuel cell in their garages in Hillsboro, Oregon.<ref name="djc keeping">{{cite news | url=http://djcoregon.com/news/2010/03/01/clearedge-power-keeping-base-in-oregon/ | title=ClearEdge Power keeping base in Oregon | last=Weinstein | first=Nathalie | date=March 1, 2010 | work=Daily Journal of Commerce | accessdate=27 June 2010 | location=Portland, Oregon }}</ref> In August 2005, Quantum Leap changed its name to ClearEdge Power.<ref name="name"/> In January 2006, they received a $2 million investment from a subsidiary of Applied Materials.<ref name=pb2006>{{cite news | url=http://portland.bizjournals.com/portland/stories/2006/01/23/daily41.html | title=Fuel cell startup lands $2M | date=January 27, 2006 | work=Portland Business Journal | accessdate=18 February 2010 }}</ref> At that time the company built fuel cell systems to produce back-up power and for continuous power applications.<ref name=pb2006/> By May 2007, the company had grown to 20 employees and had raised $10 million in venture capital.<ref name="obsolete">{{cite news | url=http://portland.bizjournals.com/portland/stories/2007/05/07/focus3.html | title=Fuel cell makers hope to make power lines obsolete | last=Kish | first=Matthew | date=May 4, 2007 | work=Portland Business Journal | accessdate=18 February 2010 }}</ref> In early 2008, ClearEdge sold and installed its first fuel cell unit.<ref name="green"/>

ClearEdge received an additional $11 million in venture capital from Kohlberg Ventures LLC in January 2009.<ref name="seek 30m">{{cite news | url=http://portland.bizjournals.com/portland/stories/2009/05/18/story2.html | title=ClearEdge seeks $30M | last=Siemers | first=Erik | date=May 15, 2009 | work=Portland Business Journal | accessdate=18 February 2010 }}</ref> On May 1, 2009, Russell Ford became the chief executive officer of the then 40-employee company,<ref>{{cite news | url=http://portland.bizjournals.com/sanjose/stories/2009/05/04/daily35.html | title=ClearEdge Power names president | date=May 5, 2009 | work=Silicon Valley / San Jose Business Journal | accessdate=18 February 2010 }} {{Dead link|date=October 2010|bot=H3llBot}} </ref> with Slangerup joining the board of directors.<ref name="hums">{{cite news | url=http://portland.bizjournals.com/portland/stories/2009/12/21/story2.html | title=ClearEdge hums along | last=Siemers | first=Erik | date=December 18, 2009 | work=Portland Business Journal | accessdate=18 February 2010 }}</ref>

The company expanded the {{convert|55000|ft2|adj=on}} headquarters to {{convert|80000|ft2}} in December 2009 after receiving an additional $15 million in venture capital from Kohlberg Ventures.<ref name="brisk growth">{{cite news | url=http://www.sustainablebusinessoregon.com/articles/2010/01/clearedge_sustains_brisk_growth.html | title=ClearEdge sustains brisk growth | last=Siemers | first=Erik | date=January 6, 2010 | work=Sustainable Business Oregon | publisher=American City Business Journals | accessdate=18 February 2010 | archive-date=16 July 2011 | archive-url=https://web.archive.org/web/20110716165926/http://www.sustainablebusinessoregon.com/articles/2010/01/clearedge_sustains_brisk_growth.html | url-status=dead }}</ref> At that time the company had grown to 150 employees, and 95% of all capital raised came from Kohlberg Ventures.<ref name="hums"/> ClearEdge raised a total of $29 million from Kohlberg in 2009 alone.<ref>{{cite news | url=http://blog.oregonlive.com/siliconforest/2010/01/oregon_venture_activity_hits_1.html | title=Venture capital slides in Oregon, nationally | last=Rogoway | first=Mike | date=January 22, 2010 | work=The Oregonian | accessdate=18 February 2010 }}</ref> In November 2009, the company began to ship a five kilowatt fuel cell and had orders for 300 of the units by December 2009.<ref name="Greentech"/><ref name="sdut">{{cite news | title=Fueling the future: Fuel cells show promise | last=Soto | first=Onell R. | date=March 7, 2010 | work=The San Diego Union-Tribune }}</ref> ClearEdge gained $11 million more in private financing in January 2010.<ref>{{cite journal | date=January 26, 2010 | title=ClearEdge nabs USD 11m to back fuel cells | journal=ADP Renewable Energy Track }}</ref><ref name="tenders">{{cite news | title=United States: ClearEdge works to make fuel cells common home appliances, raises $11M | last=sanjayV03 | date=January 28, 2010 | work=TendersInfo | publisher=Euclid Infotech Pvt. Ltd. }}</ref>

In February 2010, a fuel cell was installed at a Hillsboro Fire Department station; local dignitaries included Congressman David Wu.<ref name=HFD>{{cite news | url=http://www.oregonlive.com/washingtoncounty/index.ssf/2010/02/rep_david_wu_to_learn_how_fuel.html | title=Rep. David Wu to learn how fuel cells are made, tour Hillsboro plant that makes 'em | last=Oram | first=Bill | date=February 17, 2010 | work=The Oregonian | accessdate=18 February 2010 }}</ref> Wu’s district includes ClearEdge’s headquarters in Hillsboro, and Wu sponsored several bills that would provide tax credits for fuel cell customers.<ref name=HFD/><ref name="bill">{{cite news | url=http://www.oregonlive.com/environment/index.ssf/2009/09/oregon_congressman_wants_100_m.html | title=Oregon congressman wants $100 million for energy upgrades in commercial buildings | last=Learn | first=Scott | date=September 29, 2009 | work=The Oregonian | accessdate=18 February 2010 }}</ref><ref name="sierra"/> ClearEdge backed one of the bills, which would increase the federal tax credit for installing a fuel cell at a residence to be same as for businesses.<ref name="bill"/><ref name="readies">{{cite news |url=http://www.restructuringtoday.com/public/8660.cfm?sd=77 |title=Clear Edge readies residential, small commercial fuel cells |date=October 14, 2009 |work=Restructuring Today |publisher=GHI LLC |accessdate=18 February 2010 |url-status=dead |archiveurl=https://web.archive.org/web/20110715174701/http://www.restructuringtoday.com/public/8660.cfm?sd=77 |archivedate=15 July 2011 }}</ref> Neither of Wu's bills made it out of committee.

ClearEdge signed a $40 million deal in June 2010 to supply 800 fuel cells to Korean based LS Industrial Systems over a three-year period.<ref name="pbj korea">{{cite news | url=http://www.bizjournals.com/portland/stories/2010/06/07/daily9.html?ana=e_du_pap | title=Fuel-cell maker ClearEdge signs $40 million deal | last=Siemers | first=Erik | date=June 8, 2010 | work=Portland Business Journal | accessdate=27 June 2010 }}</ref><ref>{{cite journal | url=http://www.oregonbusiness.com/free-range/86-the-latest/3662-clearedge-to-target-oregon | last=Hoch | first=Jessica | date=June 16, 2010 | title=ClearEdge scores $40 million in Korea - next stop Oregon? | journal=Oregon Business | access-date=June 27, 2010 | archive-url=https://web.archive.org/web/20100620045554/http://www.oregonbusiness.com/free-range/86-the-latest/3662-clearedge-to-target-oregon | archive-date=June 20, 2010 | url-status=dead }}</ref> LS Industrial Systems would sell the ClearEdge5 units in Korea, which had recently required 10 percent of power on new construction come from renewable power.<ref>{{cite news | url=http://djcoregon.com/news/2010/06/10/hillsboro-fuel-cells-go-to-korea/ | title=Hillsboro fuel cells go to Korea | last=Weinstein | first=Nathalie | date=June 10, 2010 | work=Daily Journal of Commerce | accessdate=27 June 2010 | location=Portland, Oregon }}</ref> This was the first large contract for the company outside of its core California market.<ref name="pbj korea"/> The company planned to build 1,000 units in 2010, and double that in 2011.<ref name="djc keeping"/> ClearEdge was awarded a $2.8 million federal Department of Energy grant that would allow them to provide 38 fuel cells to ten different organizations including a grocery store and community college.<ref>{{cite news|last=Williams|first=Christina|title=ClearEdge awarded $2.8M DOE grant for fuel cell deployment|url=http://sustainablebusinessoregon.com/articles/2011/06/clearedge-awarded-28m-doe-grant-for.html|accessdate=24 July 2011|newspaper=Sustainable Business Oregon|date=June 14, 2011|archive-date=16 October 2011|archive-url=https://web.archive.org/web/20111016134114/http://www.sustainablebusinessoregon.com/articles/2011/06/clearedge-awarded-28m-doe-grant-for.html|url-status=dead}}</ref> They raised $73.5 million in private equity funding in August 2011 to help expand sales to Europe and South Korea.<ref name="equity capital">{{cite news|last=Young|first=Molly|title=Hillsboro-based ClearEdge Power raises $73.5 million to finance global growth|url=http://www.oregonlive.com/business/index.ssf/2011/08/hillsboro-based_clearedge_powe.html|accessdate=August 24, 2011|newspaper=The Oregonian|date=August 23, 2011}}</ref>

In December 2012, ClearEdge reached an agreement with United Technologies Corp. to buy its fuel cell business, UTC Power.<ref>{{cite news|agency=Associated Press|title=United Technologies selling unit to ClearEdge Power of Hillsboro|url=http://www.oregonlive.com/business/index.ssf/2012/12/united_technologies_selling_un.html#incart_more_business|newspaper=The Oregonian|date=December 22, 2012}}</ref> In February 2013, ClearEdge closed on its acquisition of UTC Power.<ref>{{cite news|last=Nirappil|first=Fenit|title=ClearEdge Power finalizes acquisition of UTC Power|url=http://www.oregonlive.com/hillsboro/index.ssf/2013/02/clearedge_power_finalizes_acqu.html#incart_more_business|accessdate=24 February 2013|newspaper=The Oregonian|date=February 12, 2013}}</ref> The next month, the company reduced its workforce by 39%, with many layoffs coming at the former UTC unit.<ref>{{cite news|last=Kane|first=Brad|title=S. Windsor fuel cell maker reduces workforce 39 percent|url=http://www.hartfordbusiness.com/apps/pbcs.dll/article?AID=/20130314/NEWS01/130319914|accessdate=March 14, 2013|newspaper=Hartford Business Journal|date=March 14, 2013}}</ref> Later that month the company announced it had raised another $36 million in capital.<ref name="Giegerich">{{cite news|last=Giegerich|first=Andy|title=ClearEdge cleans up, nabbing a $36M financing round|url=http://www.sustainablebusinessoregon.com/articles/2013/03/cleanedge-cleans-up-nabbing-a-36m.html|accessdate=20 March 2013|work=Sustainable Business Oregon|date=March 18, 2013}}</ref> In 2013, the company relocated its headquarters to Sunnyvale, California.<ref name=sunnyvale>{{cite web|title=Amendment to Annual Report |url=http://records.sos.state.or.us/webdrawer/webdrawer.dll/webdrawer/rec/2810246/view/SOS%20-%20Corporation%20-%20Business%20Entity%20Filing%20Records%20-%2015787492.PDF |work=Business Entity Data |publisher=Oregon Secretary of State |accessdate=5 March 2014 |url-status=dead |archiveurl=https://web.archive.org/web/20140305085308/http://records.sos.state.or.us/webdrawer/webdrawer.dll/webdrawer/rec/2810246/view/SOS%20-%20Corporation%20-%20Business%20Entity%20Filing%20Records%20-%2015787492.PDF |archivedate=5 March 2014 }}</ref> The former UTC unit in Connecticut was then closed without warning in April 2014 as the company weighed filing for bankruptcy protection.<ref name="pre bk"/>

In July 2014, ClearEdge was purchased out of bankruptcy by Doosan Fuel Cell America, Inc. for 32.4 million, plus debt.<ref name=":0">{{cite news|url=https://www.reuters.com/article/us-doosan-clearedge-idUSKBN0FQ03B20140721|title=South Korea's Doosan buys U.S. fuel cell maker ClearEdge for $32.4 million|publisher=Reuters|date=2014-07-21}}</ref><ref name=":1" />

==Operations== Doosan Fuel Cell America, Inc.'s headquarters are in South Windsor, Connecticut. The main product is a four hundred kilowatt fuel cell.

The fuel cell is powered by natural gas which a membrane breaks down into water, heat, carbon dioxide (CO₂), and hydrogen, with the latter passing through a second membrane where electricity is generated.<ref name="Greentech">{{cite journal | url=http://www.greentechmedia.com/articles/read/will-fuel-cells-rival-solar-in-california/ | last=Kanellos | first=Michael | date=November 24, 2009 | title=Will Fuel Cells Rival Solar in California? | journal=Greentechenterprise | publisher=Greentech Media }}</ref> The micro combined heat and power fuel cell have approximately 85% total fuel efficiency.<ref name="green">{{cite web| url=http://greencomplianceplus.markenglisharchitects.com/interviews/fuel-cells-offer-clean-burning-efficient-heat-power/| title=Fuel Cells Offer Clean-Burning and Efficient Heat and Power| last=Firestone| first=Rebecca| date=June 16, 2009| work=Green Compliance Plus| accessdate=18 February 2010| archive-date=5 November 2009| archive-url=https://web.archive.org/web/20091105182443/http://greencomplianceplus.markenglisharchitects.com/interviews/fuel-cells-offer-clean-burning-efficient-heat-power/| url-status=dead}}</ref><ref name="Greentech" /> PEM fuel systems have an electric efficiency of about 60% .<ref name="sierra">{{cite web | url=http://www.sierraclubgreenhome.com/featured/green-fuel-gone-residential/ | title=Green Fuel Gone Residential | work=GreenHome| publisher=Sierra Club| accessdate=18 February 2010}}</ref>

==See also== *Emergency power system

==References== {{Reflist|30em}}

==External links== *[http://gigaom.com/cleantech/10-fuel-cell-startups-hot-on-bloom-energy%E2%80%99s-trail/ 10 Fuel Cell Startups Hot on Bloom Energy’s Trail] {{Webarchive|url=https://web.archive.org/web/20111215222617/http://gigaom.com/cleantech/10-fuel-cell-startups-hot-on-bloom-energy%e2%80%99s-trail/ |date=2011-12-15 }} - earth2tech

{{Doosan}}

Category:Fuel cell manufacturers Category:Energy companies of the United States Category:Energy companies established in 2003 Category:Renewable resource companies established in 2003 Category:2003 establishments in Oregon Category:Manufacturing companies based in Connecticut Category:Companies based in Hartford County, Connecticut Category:South Windsor, Connecticut Category:Companies that filed for Chapter 11 bankruptcy in 2014 Category:Doosan Group subsidiaries Category:2014 mergers and acquisitions Category:American subsidiaries of foreign companies