Pragma secures VC funding to advance its hydrogen fuel cells

Bidart, France-based Pragma Industries said it has raised nearly €412,000 ($589,000) to develop industrial applications for its hydrogen fuel cell technology.

The company, which has specialized in fuel cell development since 2004, said yesterday’s investment came through the Bordeaux-based venture capital company Finaqui, Maisons-Alfort-based Oséo Capital as well as local and regional unspecified sources. It’s unclear how much funding Pragma Industries has raised previously.

Pragma CEO Pierre Forté said in a news release that the new capital is expected to help the company accelerate toward the final stage of developing its technology. The company's goal is to deliver a hydrogen fuel cell manufactured in power ranges from 100 watts to 10 kilowatts by 2011.

Pragma Industries said it is researching polymer electrolyte membrane (PEM) fuel cells, which are typically used in vehicles such as hybrid and electric cars. A PEM fuel cell uses hydrogen fuel and oxygen from the air to produce electricity.

In 2008, Bend, Ore.-based IdaTech signed a major deal to supply up to 30,000 PEM fuel cell systems to the Haryana, India-based Acme Group. Vancouver, British Columbia's Ballard Power Systems said it would supply the fuel cell stacks for the 5 kW systems, which would be used for telecommunications backup power applications in India (see India telecoms to get fuel cell power).

Pragma isn’t the only company looking to distribute its hydrogen fuel cells in France and beyond. Mississauga, Ontario's Hydrogenics said last month it signed two supply deals in Europe that it expects to begin fulfilling later this year (see Hydrogenics scores two deals to sell fuel cells in Europe).

Hydrogenics makes hydrogen generation and fuel cell products for customers in the energy, transportation and other industries. The deals in Greenland and France are for fuel cells as primary and backup power at renewable energy generation projects.