Meidensha, Siemens Power Generation to Join Hands in Fuel Cell

JCNN News Summaries - Japan Corporate News Network, Nov 9, 2005 by Aki Tsukioka

Tokyo, Nov 9, 2005 - (JCN) - Meidensha (MEIDEN) announced on November 8 that it has agreed with Siemens Power Generation to form a business alliance in the field of fuel cells. Under the agreement terms, the two companies will collaborate in developing, manufacturing and marketing a solid-oxide fuel cell (SOFC) system in Japan.

As an initial step, the two companies will establish a joint venture at the earliest date possible.

Through the partnership, MEIDEN aims to introduce an environmentally-friendly power generating system to strengthen its power generation business. Meanwhile, Siemens with the world's leading fuel cell technology intends to expand its presence in the Japanese fuel cell market where substantial growth is expected.