# Watt Fuel Cell funding: rounds and investors

> Watt Fuel Cell has raised $82M across 1 round since 2022. Every round with its source.

Source: https://millionrounds.com/company/watt-fuel-cell (Millionrounds; every figure on the page links to its filing or article)

United States · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Watt Fuel Cell*

One round we have observed, with the 0 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy

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Funding summary Updated 15 Nov 2026

**$82M** raised across 1 round since 2022, from 1 source

- **Latest round:** Venture, $82M Dec 2022
- **Investors:** 0

See who backed them

## The rounds

- **Dec 2022** Venture **$82M** No investor was named in the report. Source recorded SEC filing: $82M sold, first sale Dec 2021

## Funding filed with regulators

Watt Fuel Cell filed 5 raises, $107M in all. Filings say how much was sold and to how many investors; they never name the investors.

- Dec 2021 **$82M** 28 investors equity of $92M offered SEC Form D
- Apr 2020 **$8.1M** 6 investors equity, debt, securities on exercise of $20M offered SEC Form D
- Apr 2018 **$11M** 10 investors equity, debt of $15M offered SEC Form D
- Feb 2013 **$2.1M** 26 investors equity of $3.3M offered SEC Form D
- May 2011 **$3.8M** 51 investors equity, options of $8.0M offered SEC Form D

## Founders and team

From Watt Fuel Cell's own website and the SEC filings it signed: 1 founder, 4 on the team.

**Paul DeWald** Vice President of Engineering, Founder

- **Danielle Ramaley** Chief Commercial Officer
- **Caine Finnerty** Executive Officer, Director i
- **Richard Romer** Executive Officer, Director i
- **Sarah DeWald** Executive Officer i

On the board, as filed i *Morgan O'Brien* *Patrick Forsythe* *Roberto Sella* *Toby Rice*

## Quick answers about Watt Fuel Cell

### How much has Watt Fuel Cell raised?

Watt Fuel Cell has raised $82M across 1 round since 2022.

### When did Watt Fuel Cell last raise?

Watt Fuel Cell's most recent round was a Venture of $82M in Dec 2022.

### What was Watt Fuel Cell's biggest round?

Its most recent round, $82M in Dec 2022, is also its largest on record.

### What stage is Watt Fuel Cell at?

Watt Fuel Cell's latest named round is a Venture, in Dec 2022.

### Where is Watt Fuel Cell based?

Watt Fuel Cell is based in the United States.

## Companies like Watt Fuel Cell

In the same sector, and raised in the last eighteen months.

[**New ERA Energy & Digital** $354M · Nov 2026](https://millionrounds.com/company/new-era-energy-and-digital)[**Atomarine** $20M · Nov 2026](https://millionrounds.com/company/atomarine)[**Coreshell Technologies** $54M · Nov 2026](https://millionrounds.com/company/coreshell-technologies)[**Torus** $739M · Nov 2026](https://millionrounds.com/company/torus)[**Reflect Orbital** $94M · Nov 2026](https://millionrounds.com/company/reflect-orbital)[**ELECTRA AI** $5.0M · Nov 2026](https://millionrounds.com/company/electra-ai)

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