Rolls-Royce and LG Announce Investment To Advance Solid Oxide Fuel Cell Technology Development
Thu, 28 June 2012
Rolls-Royce, the global power-systems company, and LG, the electronics, chemicals and telecommunications conglomerate, are pleased to announce that LG has invested US$45m to acquire a 51% shareholding in Rolls- Royce Fuel Cell Systems (US) Inc.
Rolls-Royce Fuel Cell Systems (US) Inc., which is based in North Canton in the State of Ohio, U.S.A., has changed its name to LG Fuel Cell Systems Inc.
LG Fuel Cell Systems Inc. will continue to further the research, development, testing and commercialisation of solid oxide fuel cell technology aimed at megawatt-scale distributed power generation for industrial, commercial, and electric utility markets and applications.
LG Fuel Cell Systems Inc will have access to Rolls-Royce technical expertise and continue to engage with the US Department of Energy's SECA (Solid State Energy Conversion Alliance) Program.