SFC Energy Presents Prototype of HIGH Power Platform Up to 200 KW and Own
SFC Energy signs MoU with Indian companies BEL and FCTec
Partners looking at exclusive co.
By Anela Dokso, 27092023, 4 Mins Read
SFC Energy, a leading provider of hydrogen and methanol fuel cells, has signed a Memorandum of Understanding (MoU) with Indian companies Bharat Electronics Limited (BEL) and FCTec, to explore exclusive cooperation in the Indian market. The agreement covers the development, production, and distribution of SFC Energy's fuel cell solutions in India, with a focus on applications in the defense, energy, and transportation sectors.
Under the terms of the MoU, BEL and FCTec will conduct a feasibility study to assess the market potential for SFC Energy's fuel cells in India. The companies will also explore the possibility of establishing a joint venture to manufacture and distribute SFC Energy's products in India. The collaboration will leverage BEL's expertise in defense and aerospace, and FCTec's experience in fuel cell technology and integration.
Shares of SFC Energy reacted positively to the news, rising by 5% in morning trading. The fuel cell supplier has seen its business outlook improve in recent months, as the demand for clean energy solutions continues to grow. The MoU with BEL and FCTec is a significant step for SFC Energy, as it enters the rapidly growing Indian market. The company is well-positioned to capitalize on the increasing demand for fuel cell technology in India, and the partnership with BEL and FCTec will provide it with a strong platform to grow its business in the region.
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