American Fuel Cell, Excell Portfolio Company, acquired by Plug Power
Congratulations to American Fuel Cell (AFC), an Excell Portfolio Co. developing fuel cell membranes (MEAs) in Rochester NY, on its acquisition by Plug Power.
The acquisition is not only very positive for Excell who has led the only investment round in AFC 18 months ago, but it is also beneficial to Plug Power- whose shares rose by 4.4% upon announcing the deal in addition to strengthening its team through the addition of AFC's management.
Further this acquisition will help bring in additional R&D and manufacturing jobs to the Rochester region and Eastman Business Park.
Please help spread the good news and join us in congratulating the AFC management team for their hard work and success.