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Rolls-Royce and Singapore firms team up on fuel cell project |
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01 May 2005
Engineering giant Rolls-Royce and a consortium of Singapore companies, known as EnerTek Singapore Pte Ltd, have signed an agreement to invest S$164.7 million (US$100 million) to develop a commercially viable power system based on fuel cell technology.
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Dr Charissa Chung, Principal Technologist, Rolls-Royce Fuel Cell Systems Ltd, pictured with a fuel cell
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EnerTek Singapore comprises Temasek Holdings, a Singapore-based investment company; EDB Investments Pte Ltd, a Singapore Economic Development Board subsidiary; and Accuron Technologies, a precision engineering and technology group headquartered in Singapore.
The joint venture to develop and market an efficient, cost-effective and environmentally friendly fuel cell power system within the next two to three years is the largest alternative energy investment in Singapore.
Fuel cells generate electricity from an electrochemical reaction involving fuel and air, and a one-megawatt fuel cell can power up to 200 households. Although fuel cell technology has been in existence since the 19th century, it has not been considered commercially viable until now.
Rolls-Royce Fuel Cell Systems Ltd (RRFCS), a subsidiary of Rolls-Royce established in 2003, will carry out research and development efforts for the fuel cell project.
Said Sir John Rose, Chief Executive, Rolls-Royce: "A prudent approach to this exciting but still embryonic venture dictated a need to look for partners who could shorten the odds on success with both funding and relevant technical skills. We have found them here and are delighted to be building further on the strong ties that already exist between our Group and Singapore."
Under the terms of the agreement, Rolls-Royce will hold a 75 per cent stake in RRFCS, while EnerTek Singapore will own the rest.
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Sir John Rose, Chief Executive, Rolls-Royce
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In addition to its financial commitment, EnerTek Singapore will bring valuable technology and expertise to the project, particularly in the areas of ceramics, manufacturing automation and core research. For instance, Accuron Technologies is supplying RRFCS with ceramic components through its subsidiary company, Advanced Materials Technologies.
More than any other emerging power technology, fuel cells are expected to play a significant role in powering the future. The fuel cell investment by Rolls-Royce and EnerTek Singapore highlights Singapore's attractiveness as a location to develop and commercialise new energy solutions and technologies.
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