Pictured: Osamu Honda, Executive Vice President of the
Suzuki Motor Corporation (left), and Dr. Henri Winand, Chief
Executive of Intelligent Energy (right), shortly after signing the
agreement to create SMILE FC System Corporation.
Intelligent Energy, the global clean power systems company that
was originally a spin-out from Loughborough University, and the
Suzuki Motor Corporation, have today announced the creation of a
joint venture company called SMILE FC System Corporation, to
develop and manufacture air-cooled fuel cell systems for a range of
industry sectors. The joint venture also includes a non-exclusive
license agreement that gives Suzuki access to Intelligent Energy's
class-leading fuel cell technology for its next generation of
environmentally friendly fuel cell vehicles.
Under the terms of the contract, both companies will take a 50
percent stake in the joint venture. SMILE FC System Corporation
will be led by Mr. Osamu Honda, Executive Vice President and
representative director for Suzuki Motor Corporation, who will
become President of the JV. SMILE FC System Corporation will be
headquartered in Hamamatsu City, Shizuoka, with operations
initially based in Yokohama.
"Suzuki Motor Corporation has been developing fuel cell vehicles
with Intelligent Energy since 2006, and this successful
relationship has led to the formation of SMILE FC System
Corporation," explained Mr. Honda. "I believe that we can
accelerate the commercialisation of fuel cell vehicles through this
joint venture with Intelligent Energy."
The agreement represents good value for both parties, enabling
Suzuki cost-effective access to Intelligent Energy's advanced fuel
cell technology through partnering and licensing, thereby avoiding
the higher costs associated with in-house development. Intelligent
Energy will benefit from Suzuki's production expertise and the
emerging Japanese supply chain to jointly develop the next
generation of automotive standard air-cooled fuel cell systems.
Phil Caldwell, newly appointed Board Member of SMILE FC System
Corporation and Business Development Director at Intelligent Energy
commented, "This joint venture is the latest exciting development
in the successful relationship between Intelligent Energy and
Suzuki, which has previously resulted in the Crosscage motorcycle
and the Suzuki Burgman Fuel Cell Scooter. It is a big step towards
the mass production of automotive fuel cell systems." Equipped with
Intelligent Energy's air-cooled fuel cells, the Crosscage and
Burgman motorcycles were exhibited at the 2007 and 2009 Tokyo Motor
Show, and in 2011, the Fuel Cell Burgman Scooter became the world's
first fuel cell vehicle to achieve European Union Whole Vehicle
Type Approval (WVTA).
"Combining Intelligent Energy's market-leading fuel cell system
technology with Suzuki's mass production capabilities and supply
chain excellence will accelerate the deployment, long term
scalability and applicability of fuel cells for the next generation
of eco cars, and other market segments," explained Dr Henri Winand,
Chief Executive, Intelligent Energy. "This non-exclusive agreement
with the Suzuki Motor Corporation also provides further validation
of our 'design once, deploy many times' proprietary technology and
mutually beneficial partnering business model."
"This joint venture marks a significant milestone that reflects
Intelligent Energy's preeminent position in fuel cell and hydrogen
generation technology platforms," said Professor Steve Rothberg
Loughborough University's Pro Vice Chancellor (Enterprise). He
concluded: "From the company's origins in ground breaking transport
and chemistry research in the late 1980s to its current status as a
leading company employing 250 people worldwide, the University is
immensely proud of Intelligent Energy's achievements."