EQS-News: ElringKlinger AG
/ Key word(s): Miscellaneous
EKPO receives funding of EUR 177 million for the ongoing refinement of high-performance fuel cell stacks
Dettingen/Erms (Germany), November 15, 2023 +++ Fuel cells represent a key technology when it comes to successfully shaping the transformation of the mobility sector. EKPO Fuel Cell Technologies (EKPO), a leading technology provider specializing in the development and large-scale production of fuel cell stacks for carbon-neutral mobility, has now received confirmation of the Federal Ministry for Digital and Transport that it is to be granted funding of up to EUR 177 million for the years up to and including 2027 as part of the European “IPCEI Hydrogen” (Important Project of Common European Interest) program. Funding will be provided by the Federal Ministry for Digital and Transport and the Ministry of the Environment of the state of Baden-Württemberg. The EKPO project, aimed at developing and industrializing a new generation of high-performance PEM fuel cell stack modules for heavy-duty applications, had previously been selected by the German government. The high-performance stack modules are to be deployed primarily in the commercial vehicle sector, but also in buses and maritime applications, in the field of rail transportation, and in stationary systems. Alongside development, funding also covers preparations at a commercial level through to series production of the innovative fuel cell stacks. Asked to comment, Dr. Gernot Stellberger, Managing Director at EKPO Fuel Cell Technologies, said: "The funding granted is to be seen as an important pillar for EKPO's future development and will unlock new opportunities for us to significantly expand our product portfolio, particularly in the heavy-duty/high-performance segment, and to evolve our business model. This is underpinned by our already market-leading stack technology and our high level of expertise in the field of industrial-scale production." Implementing the IPCEI forms part of the federal government’s National Hydrogen Strategy, which is geared toward making hydrogen technology established in Germany within competitive structures. To this end, the federal government had selected 62 large-scale projects to be jointly funded by the Federal Ministry for Economic Affairs and Climate Action, the Federal Ministry for Digital and Transport, and the respective federal states with a total budget of more than EUR 8 billion. The selected projects cover large parts of the value chain within the hydrogen market. EKPO is one of four German companies to have been granted approval in the so-called first wave of "IPCEI Hydrogen". The stack modules represent a new benchmark with regard to performance and power density and are targeted at the life cycle of heavy commercial vehicles. In order to commercialize the new stack modules, both processes and design have to be optimized in terms of costs and manufacturability. In addition, the plan is to significantly reduce the carbon footprint in production. Thus, the aim of the project includes successfully migrating fuel cell stacks to mass production with a stacking rate in the parts-per-second range, while meeting the highest quality standards. IPCEI programs encompass strategic funding projects at a pan-European level that are aimed at establishing a European value chain in key economic sectors of relevance to the future. The hydrogen industry has been identified as one such key sector, of which hydrogen mobility forms a constituent part.
For further information, please contact on behalf of EKPO Fuel Cell Technologies: ElringKlinger AG
About EKPO Fuel Cell Technologies EKPO Fuel Cell Technologies (EKPO), headquartered in Dettingen/Erms (Germany), is a leading joint venture in the development and large-scale production of fuel cell stacks for CO2-neutral mobility. The company is a full-service supplier for fuel cell stacks and components used in passenger cars, light commercial vehicles, trucks, buses, as well as in train and marine applications. Within this context, the company is building on the industrialization expertise of two established international automotive suppliers – ElringKlinger and Plastic Omnium. The aim of the joint venture is to develop and mass-produce high-performance fuel cell stacks in order to further advance CO2-neutral mobility - whether on the road, rail, water or off-road.
15.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | ElringKlinger AG |
Max-Eyth-Straße 2 | |
72581 Dettingen/Erms | |
Germany | |
Phone: | 071 23 / 724-0 |
Fax: | 071 23 / 724-9006 |
E-mail: | jens.winter@elringklinger.com |
Internet: | www.elringklinger.de |
ISIN: | DE0007856023 |
WKN: | 785602 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
EQS News ID: | 1774607 |
End of News | EQS News Service |
|
1774607 15.11.2023 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.