ElringKlinger, Airbus Partner Up on Fuel Cell Technology
By Olivia Bugault
ElringKlinger AG said late on Wednesday that it has entered into
an agreement with European plane maker Airbus SE to develop fuel
cell technology for the aviation market.
"Following the delivery of stacks and a customized test rig this
summer, the agreement will see ElringKlinger and Airbus work
together to initially develop and validate aviation-compatible fuel
cell stacks in the coming years," the company said.
Under the partnership, which includes the creation of a joint
company, the German spare car-parts manufacturer will receive a
compensation in the low-to-mid double-digit million euro range in
return for giving access to technology useful for hydrogen-powered
fuel cells, it said.
ElringKlinger will own a non-controlling interest in the joint
company, while Airbus will hold the majority of the stake, it
Write to Olivia Bugault at firstname.lastname@example.org
(END) Dow Jones Newswires
October 15, 2020 01:31 ET (05:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.