Elringklinger: Seen soaring on Airbus fuel cell deal

ElringKlinger AG

15/10/2020 07:51

** Shares in German automotive supplier Elringklinger
 ZILGn.DE  are seen up 15% pre-market
    ** Elringklinger and Airbus enter into an agreement for a
long-term partnership within the area of fuel cell
technology urn:newsml:reuters.com:*:nASN000FH7
    ** The company will provide access to technology relevant to
hydrogen-powered fuel cells, while in turn receiving
compensation in the low to mid double-digit million euro range
    ** "This is definitely strong validation of Elringklinger’s
high power density fuel cell know-how," JPMorgan says
    ** The broker adds that the deal opens up a wider
addressable market for Elringklinger eventually as fuel cell
stacks can be used for all mobile applications with long range

 ((bartosz.dabrowski@tr.com))