When we interviewed Sanjiv Malhotra, CEO of fuel startup Oorja Protonics, last month, the company was still in stealth mode. Guess they decided St. Paddy’s Day should also be their coming out party — they just put out a press release declaring their public launch. Um, yay?
There’s not much news in the release, so now we’re waiting for them to talk more about the “Fortune 50 customers” that Malhotra says are already buying Oorja’s technology. The company, which has raised $21 million from Sequoia and DAG Ventures, is selling a methanol fuel cell initially geared toward materials-handling vehicles, like pallet loaders and fork lifts.
Malhotra previously told us its flagship product, the “OorjaPac,” will have a power range of .5 kilowatts to 5 kilowatts, and the release notes that it is “ten to one hundred times more powerful than existing methanol fuel cells.”
As we’ve previously noted, Sequoia’s cleantech strategy is to invest in companies that already have a product ready, and Oorja is already selling its goods. And Malhotra told us that 2008 is the year that Oorja will make the shift from initial customers to mass commercialization. We guess that’s cause for an out-of-stealth announcement.