Danbury clean energy manufacturer FuelCell Energy Inc. has strengthened its position in the European market with a pair of deals on Wednesday.
FuelCell announced its Germany-based subsidiary is acquiring assets from MTU Friedrichshafen GmbH, including fuel cell component inventory and manufacturing equipment.
As part of a three-party agreement. MTU will contribute fuel cell intellectual property to the Institute for Ceramic Technologies and Systems. The institute will then become a minority owner in the Germany-based subsidiary of FuelCell, which is called FuelCell Energy Solutions.
FuelCell Energy Solutions then will develop the market for stationary fuel cell power plants in Europe for commercial, industrial, and utility customers.
MTU is a former sales and manufacturing partner with FuelCell, as the two had a deal to jointly assemble and then sell fuel cells in Europe. That agreement expired in 2009.
