Cella announce acquisition by Persephone Capital Partners

“The future of clean energy is closer than most would believe”

13 June 2014

Cella Energy is pleased to announce that it has been acquired by a consortium of investors led by Persephone Capital Partners, LLC, of the United States. Persephone Capital Partners is a private equity firm specializing in business model realignment, new ventures, strategic alliances, turnarounds, and recapitalization of middle market companies. The firm seeks to invest in companies with disruptive technologies moving from development to commercial growth. With this strategic investment, Cella will have strong backing for the continued development and marketing of its hydrogen storage technology.

Persephone will provide management services to Cella with Persephone’s Alex Sorokin serving as CEO of the company. Mr Sorokin has an extensive history in alternative energy and recently served as CEO of ENER1, a lithium-ion battery developer and manufacturer. Mr Sorokin said, “Cella already has an unmanned aircraft using its fuel, and in the near term will focus on the lithium-ion battery replacement market, but the goal is to produce flowable pellets to revolutionize transportation and energy supply for all vehicles.”

Stephen Bennington, the driving force behind the Cella technology, will continue as Managing Director. He said, “the stability, expertise and access to funding that this acquisition provides will accelerate the commercialization of the technology.”

Persephone’s CEO and Managing Partner, Jay Lifton, stated that “Persephone’s goal with the acquisition of Cella is to produce a hydrogen-based rechargeable clean energy source for transportation, aviation and other portable energy requirements. The future of clean and more efficient energy is closer than most would believe.”

Read the full press release here

 

 

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