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BWT and Nuvera in fuel cell development deal |
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| AUSTRIA: December 23, 2002 | ||
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VIENNA - Austria's BWT water technology group said last week it had joined forces with fuel cell developer Nuvera Fuel Cells to develop a component to improve the performance of cells.
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Fuel cells generate electricity from a chemical reaction between hydrogen fuel and oxygen in the air, producing only water and heat as waste products. They are being developed as environmentally friendly alternatives to internal combustion engines in cars, buses and portable power generators. BWT said in a statement the deal involved developing a polymeric membrane suitable for industrial fuel cell applications, focusing on a product that could operate at temperatures above 90 degrees centigrade. Automakers Toyota and Honda launched prototypes of fuel cell cars in early December, while Icelanders will get to test the new technology in early 2003 when three hydrogen-powered buses hit the road in the capital Reykjavik. Shares in BWT were up 0.3 percent at 10 euros by 0830 GMT, bringing year-to date losses to just under 60 percent. Nuvera is partly owned by oil company Amerada Hess Corp. and partly by Gruppo DeNora, an Italian technology firm. Shares in Hess closed at $55.50 on Thursday on the New York Stock Exchange, down 0.5 percent.
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