ElringKlinger : sharpens its focus in the area of fuel cell technology

21.09.2018

• Future emphasis on PEMFC low-temperature system used in mobile applications
• High-temperature SOFC fuel cell business of relevance to stationary applications to be sold to sunfire GmbH, a Dresden-based energy specialist
• Signing concluded on September 19, 2018; closing agreed for September 30, 2018

Dettingen/Erms (Germany), September 21, 2018 +++ As part of the strategic orientation of its E-Mobility division, ElringKlinger AG has taken the decision to focus entirely on PEMFC (Proton Exchange Membrane Fuel Cell) technology in future; it is of key relevance to mobile applications. Against this backdrop, ElringKlinger will sell its existing business centered around high-temperature technology - which will also cover its ownership interest in new enerday GmbH, Neubrandenburg - to Dresden-based sunfire GmbH. The parties to the contract have agreed not to disclose details relating to the purchase price. The purchase agreement was signed on September 19, 2018, with the closing of the transaction having been scheduled for September 30, 2018.

Dr. Stefan Wolf, CEO of ElringKlinger AG, explained the company's strategic considerations as follows: 'In taking this step, we are looking to hone our profile as a supplier of innovative drive solutions. The solutions developed by our company in recent years for full market roll-out are suitable in particular for mobile applications. It is precisely this technology that we are keen to take to the next level as we move forward.' ElringKlinger supplies PEM fuel cell stacks for various types of vehicle and can draw on many years of successful R&D work in this field. The technology is based on hydrogen as the energy source, resulting in zero CO2 emissions.

By contrast, high-temperature SOFCs are powered with methane from natural gas, bio gas, or LPG. They are used mainly for stationary applications. The company's existing SOFC business complements the product range of sunfire GmbH by extending its portfolio to include small fuel cell devices for off-grid electricity supply and micro-CHP solutions for single-family homes. The Dresden-based energy specialist currently develops and produces large SOFC devices as well as systems for the generation of renewable gases and fuels.

In 2017, the ElringKlinger Group's SOFC business contributed around EUR 0.6 million to consolidated revenue of close to EUR 1.7 billion. SOFC-based revenue is expected to be comparable to this figure in the current financial year.

PEM fuel cell
ElringKlinger has been committed to research and development within the area of fuel cell technology for a period spanning almost 20 years. Alongside battery technology and electric drive systems, the company considers PEM fuel cells to be a key field for the future of next-generation mobility. ElringKlinger's product range within the area of PEM fuel cells includes metallic , plastic media modules, fuel cell stacks, and end-to-end systems. When it comes to automotive applications, fuel cell drives offer key advantages in the form of long ranges and quick refueling. PEMFC systems can also be used as range extenders for battery-powered vehicles. Additionally, PEM fuel cells are also being deployed to an increasing extent in stationary applications.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter | Strategic Communications
Max-Eyth-Straße 2 | 72581 Dettingen/Erms | Germany
Phone: [phone] | Fax: [phone]
E-mail: [e-mail]

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO2, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of almost 10,000 employees at 45 ElringKlinger Group locations around the globe.