News Clip

Nuvera Lands a $5m Loan
February 22, 2007
Boston Globe
by Chris Reidy, Globe staff

Nuvera Fuel Cells Inc. has obtained a $5 million loan from MassDevelopment and the Massachusetts Technology Collaborative to build new headquarters in Billerica.

Currently based in Cambridge, Nuvera develops multi-fuel processing and fuel cell technology.

Over five years, Nuvera plans to expand its 100-member workforce by 250. It's committed to hiring 10 percent of its employees from Billerica and the surrounding area, the agencies said.

MassDevelopment is the state's finance and development authority. The Massachusetts Technology Collaborative administers the state's Renewable Energy Trust.

"Nuvera is an important part of the fast-growing clean-energy cluster in Massachusetts," trust director Warren Leon said. "Companies like Nuvera are leading the way in clean-energy technologies and applications such as fuel cells, solar panels, and wind turbines."