Renewable energy start-up secures investment from Tata Limited

8 Oct 2010

Start-up company Sun Catalytix, developers of low-cost fuel cells, has announced that Indian company Tata Limited has invested in the company.

The investment of $9.5m (around €6.8m) from Tata and current investor, venture capital firm Polaris Ventures, will allow Sun Catalytix – an energy storage and renewable fuels company – continued development of the company’s products.

Daniel Nocera, company founder and Massachusetts Institute of Technology (MIT) professor, said in company statement: “The funding secured in this round will enable Sun Catalytix to continue to move its technology forward and to deliver prototypes.”

“We are delighted to have attracted Tata, a global and visionary company, as an investor,” added Tata.