HC Starck have signed a non-binding letter of agreement to acquire a majority shareholding in InDEC BV (The Netherlands). Other shareholders in InDEC include ECN and Planet Capital. The letter signed on November 12 also gives them the option of acquiring the remainder of InDEC at a later date.
HC Starck intend to use the investment as a door into the solid oxide fuel cells market. They will contribute their knowledge and experience in the area of commercialising high-tech products in fast growing markets. This will in turn enable InDEC to set itself up as a key supplier of solid oxide fuel cells to stack and system developing industries.
If the transaction proceeds, it is envisages that InDEC and ECN will enter into a research and development programme to improve current fuel cells and develop new ones.
For more information on fuel cells, click here.