ReliOn announces another round of backing, expanding sales goals

Spokane Valley fuel cell developer, ReliOn, announced Tuesday it’s gained an additional $6 million in further investment from its existing backers.

The money, according to a ReliOn release, will help push further U.S. commercial sales and expand marketing and sales internationally.

The focus in Europe derives, in part, from ReliOn’s recently announced partnership with HOPPECKE Batteriren GmbH, a major European innovator and producer of battery systems.

A press release Tuesday noted that privately held ReliOn has enjoyed a nice upward swing in sales and gross profit.

The release also quoted CEO Gary Flood saying, “With this funding, we are able to accelerate a number of important programs currently underway which move the company toward our objective of becoming the first profitable fuel cell company.”