WATT Fuel Cell, a company that formulates and develops solid oxide fuel cell (SOFC) systems, declared that it has entered into an accord with Solar Acquisitions to obtain the intellectual property (IP) rights and global license for a fuel cell technology developed and tested by it.
As a component of the accord, WATT Fuel Cell has launched a joint venture (JV) with Solar Acquisitions to establish a new company known as Evolution Fuel Cell, a unit accredited to formulate IP usages up to 500 W. The accord will also provide WATT Fuel Cell the equipment required for the development of IP in the initial stages.
By utilizing the joint venture, Evolution Fuel Cell, WATT Fuel Cell will develop products up to 500 MW power production yield for usages that need lightweight power units delivering high level of energy mass with competence. The venture will also provide WATT Fuel Cell the sole license to control the IP utilized for develop SOFC systems of 200 W to 50 kW output on its own.
The JV, according to Dr. Caine Finnerty, WATT Fuel Cell’s President, provides opportunities to commercialize the portable SOFCs of WATT Fuel Cell. Also the cross-licensing future of the accord will allow WATT Fuel Cell and Evolution Fuel Cell to move into the business with a sophisticated and latest technology and the equipment needed to introduce the WATT Fuel Cell into a more aggressive market conditions.