ElringKlinger announces fuel cell technology partnership with Airbus

ElringKlinger AG entered (14-Oct-2020) an agreement with Airbus for a long term partnership within the area of fuel cell technology. Following the delivery of stacks and a customised test rig in northern summer 2020, the agreement will see ElringKlinger and Airbus work together to initially develop and validate aviation-compatible fuel cell stacks in the coming years. ElringKlinger will provide the newly established company with access to technology relevant to hydrogen-powered fuel cells, while in turn receiving compensation in the "low to mid double-digit million euro range". A major part of the compensation is payable as of closing scheduled for the end of 2020. Additionally, ElringKlinger will supply the newly established joint company with certain components needed for development activities. Relevant financial details will be included in ElringKlinger's 2020 financial statements. [more - original PR]