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Encell Technology Stocks Up On New VC

Tuesday, August 7, 2012 5:32:00 AM PDT | VentureDeal
Charlottesville, Virginia  --  Energy storage company Encell Technology has secured $7 million in new venture capital investment, according to an SEC regulatory filing.

Encell says that its mission is to "provide energy storage systems that are essential and critical to improving the efficiency of electrical power storage and distribution."

Investors in the new financing were not disclosed, nor was how the company intends to use the proceeds.

Encell is still seeking an additional $11 million in financing, according to the filing.

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