Intelligent Energy and Suzuki Motor Corporation Establish Joint Venture Company to Develop and Manufacture Fuel Cell Systems
Intelligent
Energy, the global clean power systems company, and the Suzuki Motor
Corporation, have today announced the creation of a joint venture
company called SMILE FC System Corporation, to develop and manufacture
air-cooled fuel cell systems for a range of industry sectors. The joint
venture also includes a non-exclusive license agreement that gives
Suzuki access to Intelligent Energy’s class-leading fuel cell technology
for its next generation of environmentally friendly fuel cell vehicles.
Osamu Honda, Executive Vice President of the Suzuki Motor Corporation (left), and Dr. Henri Winand, Chief Executive of Intelligent Energy (right), shortly after signing the agreement to create SMILE FC System Corporation. (Photo: Business Wire)
Under the terms of the contract, both companies will take a 50 percent
stake in the joint venture. SMILE FC System Corporation will be led by
Mr. Osamu Honda, Executive Vice President and representative director
for Suzuki Motor Corporation, who will become President of the JV. SMILE
FC System Corporation will be headquartered in Hamamatsu City, Shizuoka,
with operations initially based in Yokohama.
“Suzuki Motor Corporation has been developing fuel cell vehicles with
Intelligent Energy since 2006, and this successful relationship has led
to the formation of SMILE FC System Corporation,” explained Mr. Honda.
“I believe that we can accelerate the commercialisation of fuel cell
vehicles through this joint venture with Intelligent Energy.”
The agreement represents good value for both parties, enabling Suzuki
cost-effective access to Intelligent Energy’s advanced fuel cell
technology through partnering and licensing, thereby avoiding the higher
costs associated with in-house development. Intelligent Energy will
benefit from Suzuki’s production expertise and the emerging Japanese
supply chain to jointly develop the next generation of automotive
standard air-cooled fuel cell systems.
Phil Caldwell, newly appointed Board Member of SMILE FC System
Corporation and Business Development Director at Intelligent Energy
commented, “This joint venture is the latest exciting development in the
successful relationship between Intelligent Energy and Suzuki, which has
previously resulted in the Crosscage motorcycle and the Suzuki Burgman
Fuel Cell Scooter. It is a big step towards the mass production of
automotive fuel cell systems.” Equipped with Intelligent Energy’s
air-cooled fuel cells, the Crosscage and Burgman motorcycles were
exhibited at the 2007 and 2009 Tokyo Motor Show, and in 2011, the Fuel
Cell Burgman Scooter became the world’s first fuel cell vehicle to
achieve European Union Whole Vehicle Type Approval (WVTA).
“Combining Intelligent Energy’s market-leading fuel cell system
technology with Suzuki’s mass production capabilities and supply chain
excellence will accelerate the deployment, long term scalability and
applicability of fuel cells for the next generation of eco cars, and
other market segments,” explained Dr Henri Winand, Chief Executive,
Intelligent Energy. “This non-exclusive agreement with the Suzuki Motor
Corporation also provides further validation of our ‘design once, deploy
many times’ proprietary technology and mutually beneficial partnering
business model.”
About SMILE FC System Corporation
SMILE FC System Corporation Board:
Osamu Honda, President and Representative Director (and Executive Vice
President and Representative Director of Suzuki Motor Corporation);
Masataka Yamakawa, Vice President and Representative Director (and
Representative Director, IE Japan Ltd);
Ichizo Aoyama, Board Member (and Managing Director and Executive
Director at Suzuki Motor Corporation);
Phil Caldwell, Board Member (and Business Development Director at
Intelligent Energy Ltd);
Kunio Nakamura, Auditor (and Auditor at Suzuki Motor Corporation).
The ratio of capital contribution to SMILE FC System Corporation is as
follows: SMC (50%), IEHP (50%).
The SMILE FC System Corporation HQ is located at 300, Takatsuka-cho,
Minami-ku, Hamamatsu-city, Shizuoka. The place of business for the
corporation is 2-1, Sakuranamiki, tuduki-ku, Yokohama-city, Kanagawa.
About Intelligent Energy
Intelligent Energy is a leading clean power systems company with a
globally scalable business, operating in the motive, stationary power
and consumer electronics sectors. Our proprietary fuel cell technologies
are designed for the mass market products of some of the world’s leading
companies. Intelligent Energy continues to accelerate the commercial
introduction of its technologies into very large and growing markets
based on sound yet cost effective operations and partnerships.
Intelligent Energy’s successes include building the world’s first
purpose built fuel cell motorbike, and with partner Suzuki, the first
ever fuel cell vehicle to achieve European Union type approval. The
company also supplied the system to Boeing which powered the world’s
first manned fuel cell aircraft.
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