Volvo fuel cell technology to create 100 new jobs
By IBI Magazine
Sweden's Volvo Group has teamed up with the Swedish Energy Agency, Midroc New Technology and OCAS to invest SEK 200m in the development of Volvo's fuel cell technology.
The parties will make a joint investment in Powercell Sweden AB in Gothenburg, which is currently owned by Volvo subsidiary Volvo Technology Transfer. Following the investment, Volvo will be a minority owner.
In August, Powercell Sweden will hire around 60 people in an entirely new plant in Gothenburg. Per Wassén, investment director at Volvo Technology Transfer and chairman of Powercell Sweden AB, foresees that the company will create around 100 new jobs in the region within the next three years.
"We are immediately going to start hiring qualified people for production, product development, marketing and sales," says Wassén.
Powercell Sweden AB has two patented components: a fuel converter (reformer) and a PEM fuel cell - the type of fuel cell most often used in transport applications. The fuel converter produces hydrogen gas from bio fuels such as ethanol, DME, biogas, methanol and biodiesel, but also from regular diesel or gasoline. The PEM fuel cell then converts the hydrogen gas into electricity.
"Thanks to our reformer technology we are now ready to start our production without having to wait for an infrastructure for the distribution of hydrogen gas. This is truly a major step in the development of fuel cells," says Wassén.
(3 July 2009)
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