Blue World Technologies enters strategic alliance with DEUTZ AG
The partnership, which is centred around a sale and service agreement with DEUTZ, will strengthen Blue World Technologies’ market access through DEUTZ’ large worldwide sales and service network.
As a technology leader in the development and production of methanol fuel cell components, stacks, reformers, and systems Blue World Technologies has since the company was founded in October 2018 had an aim to bring high-temperature PEM fuel cell technology to a commercial level through the industrialisation of the technology. Earlier this year, the company took over 8,500 m2 production facilities in Aalborg, Denmark, and is now in the process of installing production equipment in what will be one of the largest fuel cell factories in Europe.
DEUTZ is a world-leading off-highway drivetrain and technology provider with a sales and service network covering more than 800 sales and service providers in 130 countries around the world. With a focus on innovation and having a broad product spectrum, DEUTZ is welcoming the fuel cell technology as part of its engagement in green technology. The partnership agreement is subject to final due diligence with completion expected during Q4 2021 at which time Deutz will assume a 10% equity interest in Blue World Technologies.
