Solvay purchases stake in fuel cell firm
03 Dec 2008
Solvay has acquired a 13 per cent stake in UK-based company ACAL Energy, a developer of fuel cell technology.
The drugs giant confirmed that it amounts to a £1.25 million investment in the firm.
ACAL is ready to use the funds to accelerate the development of an innovative fuel cell technology known as FlowCath, which is said to bring new levels of efficiency and reliability.
Jean-Michel Mesland, Solvay’s general manager of research and technology and member of the executive committee, said: “As leader in innovative polymer membrane technology for fuel cells, we are committed to [giving] strong support to the development of such devices which are needed to achieve sustainable development.”
Senior vice-president of future businesses at Solvay Leopold Demiddeleer added that fuel cell technology shows potential as a future business source.
Earlier this week Solvay confirmed it had successfully completed the requisite pre-registration of 400 substances at the European Chemicals Agency.
The firm added that it supports the main aim of the European regulation, which is to properly protect both human health and the environment through a shared knowledge of chemical substances.
