Deutz invests in fuel cell technology

by

Deutz invests in fuel cell technology-deutz

The engine manufacturer Deutz is continuing its activities in the field of alternative drive systems and a few days ago completed the due diligence process for the investment in the company Blue World Technologies, which specializes in fuel cell technology, which will lead to the acquisition of the first of two planned tranches. Acquisition of the second tranche is expected in the first half of 2022 after regulatory approval has been granted.

Deutz will invest a total of 7.5 million euros in return for an 11.91 percent stake in the company. Blue World based in Aalborg, Denmark, developed, produces and distributes fuel cell stacks, reformers and corresponding systems. The focus of the cooperation is an exclusive sales and service agreement for stationary, methanol-powered fuel cell generators, according to Deutz in a recent press release.

“The stake in Blue World Technologies fits perfectly into our sustainable growth strategy,” says Dr. Frank Hiller, CEO of Deutz AG. The investment by Deutz, together with another investment by the Danish growth fund Vaekstfonden, will enable Blue World to establish further automated machining processes in production over the course of 2022. This is intended to increase production capacity with the aim of starting series production towards the end of next year.

“During the Deutz Days 21 in November, we presented our new Green reporting segment to the public. We also presented our customers the products of Blue World. With this event we were able to generate an overwhelming amount of interest. The fuel cells powered by green methanol allow for a faster transition to zero-carbon operations as it is a liquid fuel that can be used on existing infrastructure. Deutz is thus continuing its efforts to find climate-neutral solutions for the off-highway sector that go beyond classic engine concepts. The investment in Blue World is another step that brings us closer to achieving our growth target for our Green segment.-Dr. Frank Hiller, CEO Deutz AG

“Our partnership with Deutz has started very well and we have already experienced strong interest in our methanol fuel cell technologies from Deutz customers,” explains otherwise Korsgaard, CEO and co-founder of Blue World Technologies, and adds: “In recent years, we have can monitor significant investments of market leaders along the entire methanol value chain, from production to use. Against the background of this increased focus on green methanol, this is the optimal time for a partnership between Deutz and Blue World.”

Related articles

Please follow and like us:
error
fb-share-icon
Tweet
fb-share-icon

2 thoughts on “Deutz invests in fuel cell technology”

  1. Better than not investing in future technologies at all. As a pure manufacturer of combustion engines, the future does not look so rosy.

    This is something many suppliers are experiencing right now. It’s just like Kodak back then. There were chemists who had no idea about digital technology. As a piston manufacturer and thus a company specializing in metal processing, you will never think of getting into power electronics. You have no expertise. A rude awakening is yet to come. Deutz is at least taking a step in the right direction. It doesn’t have to be mobility later on. I think stationary fuel cells will be required frequently in the future.

    Farnsworth

    Reply

Leave a Comment