Shell and International Fuel Cells agree to establish fuel processing joint venture
Shell Hydrogen US, a division of Shell Oil Products Company (Shell), and International Fuel Cells, a subsidiary of United Technologies Corporation (NYSE: UTX), today announced their intent to establish a 50-50 joint venture company to develop, manufacture, and sell fuel processors for the emerging fuel cell and hydrogen fuel markets.
Fuel processors are devices for converting fossil fuels, such as natural gas or gasoline, into hydrogen. Under the terms of the memorandum of understanding signed between Shell and UTC, the joint venture will target such devices at fuel cells in automobiles, buses, power generators and at distributed hydrogen fueling applications (such as at retail or commercial filling stations, convenience stores and residences).
Shell and International Fuel Cells (IFC) are currently pursuing different aspects of the development of fuel processors for these markets. By combining the complementary technological and marketing strengths of both partners, the new joint venture will be a global competitor in this technology.
The joint venture will market to a wide range of customers, including automotive manufacturers and fuel cell power-plant manufacturers (such as IFC).
“Shell Hydrogen is committed to hydrogen as the fuel of choice and to delivering hydrogen fuel on a commercial basis,” said Don Huberts, CEO of Shell Hydrogen.
“Fuel processors provide a practical and critical bridge between today’s technology and tomorrow’s by providing hydrogen from safe, inexpensive and readily available sources.”
“This joint venture combines two complementary fuel processing efforts in the industry,” said William T. Miller, President of International Fuel Cells. “We are pleased to have Shell as a partner in our own aggressive efforts to continue commercialization of fuel cell technologies.”
Additionally, as part of a broader strategic business relationship between Shell Hydrogen and UTC in the emerging fuel cell and hydrogen businesses, Shell will market IFC fuel cell power systems for certain stationary power applications.
Shell Hydrogen is a global business consisting of separate companies and other organizational entities within the Royal Dutch/Shell Group of Companies. Shell Hydrogen was set up in 1999 to pursue and develop business opportunities related to hydrogen and fuel cells, and has its principal office in Amsterdam, the Netherlands.
International Fuel Cells is a global competitor in fuel cell production and development for commercial, transportation, residential and space applications. IFC is the sole supplier of fuel cells for US space missions.
Source: Shell Energy ( first published on 19/9/00 )