Intelligent Energy, a specialist in clean power systems, and the Suzuki Motor Corporation have announced the creation of a joint venture company called Smile FC System Corporation, to develop and manufacture air-cooled fuel cell systems for a range of industry sectors.
March 16, 2012
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4011 Intelligent Energy, a specialist in clean power systems, and the Suzuki Motor Corporation have announced the creation of a joint venture company called Smile FC System Corporation, to develop and manufacture air-cooled fuel cell systems for a range of industry sectors. The joint venture also includes a non-exclusive license agreement that gives Suzuki access to Intelligent Energy’s fuel cell technology for its next generation of environmentally friendly fuel cell vehicles.
Under the terms of the contract, both companies will take a 50 per cent stake in the joint venture. Smile FC System Corporation will be led by Osamu Honda, executive VP and representative director for Suzuki Motor Corporation, who will become president of the JV which will be headquartered in Hamamatsu City, Shizuoka, with operations initially based in Yokohama, Japan.
According to Intelligent Energy’s Phil Caldwell, newly appointed to the board of Smile FC System, “This joint venture is the latest exciting development in the successful relationship between Intelligent Energy and Suzuki, which has previously resulted in the Crosscage motorcycle and the Suzuki Burgman fuel cell scooter. It is a big step towards the mass production of automotive fuel cell systems.”
