29 December 2010 16:34 [Source: ICIS news]
TORONTO (ICIS)--German engine maker Tognum has decided to exit its fuel cells activities as the business is not likely to become commercially viable, it said on Wednesday.
Tognum said its fuel cells business, focused on stationary power generation, was “unlikely to become commercially viable in the medium term, given current market conditions and subsidy schemes.”
The company had been trying, without success, to find a partner for the fuel cells business in ?xml:namespace>
However, the talks failed earlier this month and management therefore decided to discontinue the business.
Friedrichshafen-based Tognum is described as a leading supplier of engines and propulsion systems for off-highway applications, and of distributed energy systems.
A number of chemical firms have invested in fuel cells as a market for their products.
Last year, for example, German chemicals major BASF started production in the
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections