ENGIE Invests in Symbio FCell to Develop Hydrogen Mobility

Posted by Lauren Tyler on September 20, 2016 No Comments
Categories : New & Noteworthy

Symbio FCell, a fuel cell technology company and inventor of the range extender for hybrid electric-hydrogen vehicles, says it has added ENGIE to its board of investors in a new round of fundraising to help the company develop faster, particularly in the field of hydrogen mobility.

According to Symbio FCell, ENGIE has taken steps to speed up the development of alternative energies, including in electric transportation and green mobility, and with more than 5,000 charging stations installed in Europe, the group is encouraging the use of hydrogen in electric mobility. Joining Michelin in investing in Symbio FCell, ENGIE will take an active part in the evolution of hydrogen uses.

“ENGIE’s arrival alongside Michelin sends a strong signal to businesses and governments that have chosen to become active in the energy transition and want rapid access to fully operational solutions,” said Fabio Ferrari, CEO of Symbio FCell.

“This project illustrates the group’s commitment to developing hydrogen-powered transportation by teaming up with industry partners. ENGIE wants to develop green mobility and alternative energies, deploying NGV as an alternative fuel; or electric mobility, with EV charging stations installed in Europe; or innovative solutions dealing with hydrogen,” said Thierry Lepercq, executive vice president at ENGIE.

Moreover, Michelin reaffirmed its confidence in Symbio FCell by participating in the second round of funding, becoming the company’s main shareholder.

“Michelin is a key player of sustainable mobility and considers hydrogen as a critical component of it. Symbio FCell’s approach kick-starts profitable hydrogen mobility services that meet urban needs, prior to the massive arrival of mainstream H2 vehicles,” noted Laurent Noual, member of the executive committee of the Michelin Group.

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