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Article: United States: HydroGen, LLC Secures $2 Million in Bridge Financing From Samsung C&T Corporation and Federated Kaufmann Fund.
- Article from:
- TendersInfo
- Article date:
- September 6, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sanjayc03
HydroGen Corporationa designer and manufacturer of multi-megawatt air-cooled phosphoric acid fuel cell (PAFC) systems, today announced that the Company and HydroGen, LLC, the Companys wholly-owned subsidiary, entered into a Loan and Security Agreement on August 22, 2008 with Samsung C&T Corporation and Federated Kaufmann Fund pursuant to which Samsung and Federated Kaufmann have each agreed to loan $1 million to HydroGen, LLC in two equal installments. A first tranche of $1 million of the loan was released to HydroGen, LLC at the closing on August 22. A second tranche of $1 million will be released to HydroGen, LLC on or before September 30, ...