WATT Fuel Cell Forms JV with Solar Acquisitions
In addition, the agreement supplies WATT Fuel Cell with the equipment used to initially develop the IP.
Under the JV, WATT Fuel Cell will develop Evolution Fuel Cell products up to a 500W power output for applications requiring lightweight units that deliver high energy density and efficiency. The JV also furnishes WATT Fuel Cell with an exclusive license to independently control the IP for developing SOFC systems from 200W up to 50kw.
Caine Finnerty, president of WATT Fuel Cell Corporation, said: â€œThis JV presents an exciting opportunity for the commercialization efforts of portable solid oxide fuel cell (SOFC) systems at WATT Fuel Cell. The JV and exclusive cross-licensing structure will enable WATT Fuel Cell and Evolution Fuel Cell to enter the industry with technology and associated equipment, launching WATT Fuel Cell into an immediately competitive market position.
â€œThis is an enormous step forward, both for WATT Fuel Cell and the industry at-large, and we expect it will translate into great things for advanced energy technology. The technology that Solar Acquisitions brings to the table has clearly demonstrated the viability of SOFCs for a variety of portable applications.â€
Benjamin Emley, director of technology at WATT Fuel Cell, said: â€œSome fuel cell systems are struggling with the economical production and distribution of high purity hydrogen. Itâ€™s great to be working with a fuel cell technology that operates efficiently on todayâ€™s readily available energy resources, while also offering the potential to bridge us into the future as renewable resources are established.â€
Will the JV benefit the firms?
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