UTC Fuel Cells and Toshiba Agree To Rearrange Fuel Cell Partnership

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UTC Fuel Cells, a business of United Technologies Corporation (UTX), today announced changes to its long-standing relationship with Toshiba. Under the terms of the agreement, UTC Fuel Cells will purchase Toshiba’s 10 percent ownership interest in UTC Fuel Cells, and Toshiba will purchase UTC Fuel Cells’ 49 percent interest in Toshiba International Fuel Cells (TIFC). UTC Fuel Cells manufactures the PureCell 200(TM), a phosphoric acid fuel cell (PAFC) stationary power unit, and develops proton exchange membrane technology (PEM) fuel cells to power cars and buses. UTC Fuel Cells also is developing PEM for stationary power plants. Toshiba is focused on developing and selling small PEM-based fuel cell power plants for residential use. Joint technology development of PEM by the two companies will continue under the new agreement, which includes a cross-licensing arrangement. [ more ]