Launch of EKPO Fuel Cell Technologies
- New company, jointly owned by ElringKlinger and Plastic Omnium, ready to supply fuel cell stacks and components for broad range of applications
- Initial annual production capacity of up to 10,000 stacks already available
- In parallel, Plastic Omnium takes ownership of ElringKlinger’s subsidiary for integrated hydrogen systems to complement its global hydrogen strategy
EKPO Fuel Cell Technologies, the joint venture of ElringKlinger (60%) and Plastic Omnium (40%), is now ready to start operations, having implemented all contractual arrangements and been granted the necessary antitrust approvals. The newly created company offers best-in-class and cost-competitive fuel cell stacks and components for a broad range of applications. Initially, the company will focus on commercial vehicles and buses and then on passenger cars. Special vehicles, trains, and ships are also fields of the growth potential.
Commenting on EKPO’s launch, the two CEOs of the parent groups, Dr. Stefan Wolf and Laurent Favre, said, "We are pleased that business is now underway. We see tremendous market potential ahead of us and are determined to achieve our revenue target of EUR 700 million to EUR 1 billion in 2030. Our commercial pipeline is very strong and production capacity is in place. In addition, we can build on compelling technology, centered around high power density, in our efforts to translate our joint vision into reality. By successfully establishing fuel cell drives, we make our contribution on the road to emission-free mobility."
The company site in Dettingen/Erms, Germany, is already able to produce up to 10,000 fuel cell stacks per year according to automotive industrial standards as well as key components of a stack, such as bipolar plates or media modules. In the coming years, EKPO will drive investments for accelerating innovation, extending the commercial pipeline, and increasing production capacity, with the aim to achieve a market share of 10 to 15% in 2030.
The joint venture is headed by a group of three general managers. Armin Diez (58), previously in charge of ElringKlinger's fuel cell business, is responsible for the technical and operational activities. Julien Etienne (43) from Plastic Omnium New Energies is in charge of sales, marketing, and program management. Dr. Gernot Stellberger (41), Head of Global Strategy, M&A, and Innovations at ElringKlinger, is responsible for financial and strategic tasks.
As part of the agreement signed in October 2020, Plastic Omnium also acquires ElringKlinger Fuelcell Systems Austria GmbH (EKAT), ElringKlinger’s subsidiary specialized in integrated hydrogen systems. With this acquisition, Plastic Omnium complements its expertise in energy management and control of hydrogen systems.