PowerCell and Bosch sign term sheet for the automotive segment
Fuel cell developer PowerCell Sweden AB has announced that it has signed a term sheet with the German automotive supplier company Robert Bosch GmbH (Bosch), regarding joint development cooperation for the automotive segment regarding PowerCell’s automotive fuel cell stack PowerCell S3 and PowerCell’s fuel cell systems. The parties have also agreed that PowerCell shall start supplying Bosch with fuel cell stacks for use in Bosch’s prototype fuel cell systems for the automotive industry.
According to a statement, the two parties will engage in detailed negotiations about the exact terms for the development cooperation. The ambition of the two parties is to be able to finalize these negotiations in the first half of 2019.
The coming negotiations will include the scope of cooperation, intellectual property rights, the field of use, production and licensing agreements as well as remuneration and licensing fees.
Powercell’s fuel cell stack PowerCell S3 has been specifically developed to meet the needs of the automotive segment and has market-leading power density and durability. Bosch is one of the world’s largest and most well-known supplier to the automotive industry.
As part of the term sheet, the parties have also agreed that PowerCell shall start supplying Bosch with fuel cell stacks for use in Bosch prototype fuel cell systems for the automotive industry.