By Olivia Bugault

 

ElringKlinger AG said late on Wednesday that it has entered into an agreement with European plane maker Airbus SE to develop fuel cell technology for the aviation market.

"Following the delivery of stacks and a customized test rig this summer, the agreement will see ElringKlinger and Airbus work together to initially develop and validate aviation-compatible fuel cell stacks in the coming years," the company said.

Under the partnership, which includes the creation of a joint company, the German spare car-parts manufacturer will receive a compensation in the low-to-mid double-digit million euro range in return for giving access to technology useful for hydrogen-powered fuel cells, it said.

ElringKlinger will own a non-controlling interest in the joint company, while Airbus will hold the majority of the stake, it said.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

October 15, 2020 01:31 ET (05:31 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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