Michelin buys into fuel-cell maker

Michelin buys into fuel-cell maker

Group Michelin has acquired a «significant» minority ownership stake in Symbio FCell, a Paris-based developer of fuel-cell technology.


«By becoming a shareholder in Symbio FCell, Michelin will be in a position to have SymbioFCell benefit from technological experience in the field of fuel cell in favor of sustainable mobility», - said Prashant Prabhu, director of the Michelin Incubator Program Office. «Symbio FCell will acquire the means to furnish the products its customers expect while meeting the high quality standards of the automotive industry».

Michelin acquired its undisclosed stake as part of a capital increase by Symbio. Financial terms were not disclosed.

Among Symbio FCell’s recognized developments is its integration of a fuel-cell range extender into the Renault Kangoo ZE, the sales leader among commercial electrical utility vehicles in Euopre.

The fuel cell range extender-equipped Kangoo is being tested by major commercial fleets’ operators such as La Poste, French postal office, Symbio said. Symbio described its share capital increase as an important step in the development of its strategy to advance this innovation on the path to industrialization. Michelin, by virtue of its considerable research and development in hydrogen fuel cells and sustainable mobility, brings value to this partnership, Symbio said.

«This second round of funding gives us the financial resources we need to proceed with the industrialization of our solutions», - said Symbio Presient Fabio Ferrari. «With the arrival of the Michelin Group as a shareholder, we strengthen our technology leadership, our potential for innovation, as well as our credibility and our market presence».


   Related items

  • Michelin Unveils New UHP Tire at NAIAS
    Michelin introduced its newest ultra-high-performance tire – the MICHELIN Pilot® Sport 4 S – today at the North American International Auto Show. The product succeeds the MICHELIN® Pilot® Super Sport, which is widely recognized as the industry-leading ultra-high-performance tire for original equipment and replacement... Read more
  • Michelin S.O.S Grip®: The New High-Performance, Easy-To-Fit Snow Sock
    Since November 1, motorists are able to purchase the new, high-performance, easy-to-fit MICHELIN S.O.S. GRIP® snow sock for safe driving on snow and... Read more
  • Rollout for Michelin solutions’ next-gen Effitrailer telematics
    Michelin solutions has announced a suite of upgrades to its Effitrailer telematics programme. The dedicated trailer telematics software now offers three additional system abilities: asset ID, cold-chain management and a remote door opening... Read more
  • Michelin reaffirms opposition to 3mm replacement
    While some manufacturers lobby for tyres to be replaced at 3 or even 4 mm, Michelin maintains that the current legal limit of 1.6 mm is “perfectly suited” to modern motoring and has reaffirmed its opposition to a change in the... Read more
  • Michelin expands regional commercial tyre accidental damage guarantee
    Michelin has extended its accidental damage guarantee for regional tyres across the UK and Republic of Ireland (ROI) to a wider range of fitments. The company’s X Multi Guarantee now covers 37 tyre sizes, including Michelin’s most popular products on the replacement and original equipment markets. This marks an increase of 34 fitments from the previous scheme – and includes all X Multi and... Read more
Login to post comments


Remember Me