Upstart Power, a leading developer and manufacturer of solid oxide fuel cell (SOFC) power systems for on-demand backup power and distributed generation, has announced the completion of a $17 million Series C financing. The fresh funding will be used to advance the ongoing global commercialization of Upstart’s revolutionary UpgenTM platform of next-generation on-demand backup and grid-augmenting solid oxide fuel cell generators.

The financing was led by ITOCHU Corporation as part of a new strategic partnership with Upstart, and it featured participation from current investors Enphase Energy, Sunnova, Rodgers Capital, H+ Partners, and Cricetus Felix Ventures. In addition to the Series C financing, Upstart Power and ITOCHU