Brief: Elringklinger And Plastic Omnium Partner In Fuel Cell Technology To Accelerate The Development Of Hydrogen Mobility

ElringKlinger AG

28/10/2020 21:10

Oct 28 (Reuters) - Elringklinger AG  ZILGn.DE :
    * DGAP-ADHOC: ELRINGKLINGER AND PLASTIC OMNIUM PARTNER IN
FUEL
CELL TECHNOLOGY TO ACCELERATE THE DEVELOPMENT OF HYDROGEN
MOBILITY
    * EKPO FUEL CELL TECHNOLOGIES WILL BE OWNED 60% BY
ELRINGKLINGER
AND 40% BY PLASTIC OMNIUM
    * ELRINGKLINGER-WILL CREATE EKPO FUEL CELL TECHNOLOGIES, A
JOINT
VENTURE DEDICATED TO FUEL CELL STACK DEVELOPMENT, PRODUCTION AND
COMMERCIALIZATION
    * PLASTIC OMNIUM WILL INVEST EUR 100 MILLION IN NEW COMPANY
    * ANNUAL PRODUCTION CAPACITY OF INITIALLY UP TO 10,000 UNITS
IN JV
WILL BE PROGRESSIVELY EXTENDED ACCORDING TO ORDER BOOK
    * ELRINGKLINGER-BY 2030, EKPO FUEL CELL TECHNOLOGIES AIMS TO
REACH
REVENUES BETWEEN EUR 700 MILLION AND EUR 1 BILLION

Source text for Eikon:  ID:nEQ3f3Zs6a 
Further company coverage:  ZILGn.DE 

 (Reporting by Kartik Mehindru)
 ((Kartik.Mehindru@thomsonreuters.com;))