ISE Corp, a 14-year-old maker of hybrid vehicle technology, has raised $17.5 million in a Series D round that brings the total amount the company has raised to date to $55.1 million. The latest round was funded by first-time investors Siemens Venture Capital, Macquarie Clean Technology Fund, and DTE Energy Ventures, as well as two backers from previous rounds, RockPort Capital Partners and NGP Energy Technology Partners.
Unlike other hybrid technology makers that tend to focus on passenger cars, ISE is focused on equipping larger vehicles such as buses to run on cleaner-burning fuels. It is also developing energy storage systems and fuel cell control technologies for heavy-duty vehicles. The company says that, to date, it has delivered 200 hybrid electric drive systems that have collectively logged more than nine million miles. -- Andrea Orr
See Nov. 16 post on ISE funding from PEHub.com
Continue reading below
