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ENGIE joins Michelin in investing in Symbio FCell

Fuel cell company Symbio FCell, which has introduced the first fuel-cell range extender for electric vehicles (earlier post), has conducted a second round of fundraising and brought global energy operator ENGIE into the ranks of its investors, which include Michelin. Michelin is now Symbio FCell’s main shareholder.

ENGIE, as a player in the green mobility market, has taken steps to speed up the development of alternative energies, including in electric transportation. Having installed more than 5,000 charging stations in Europe, the Group is now helping to encourage the use of hydrogen in electric mobility.

By joining Michelin in investing in Symbio FCell, ENGIE will take an active part in the evolution of hydrogen uses and already experiments the installation of H2 infrastructures.

ENGIE wants to develop green mobility and especially alternative green energies, deploying NGV as an alternative fuel, or electric mobility, with EV charging stations being installed in Europe, or innovative solutions dealing with hydrogen.

—Thierry Lepercq, Executive Vice-President at ENGIE

Michelin is a player in the field of sustainable mobility and considers hydrogen to be one key component of this domain. Symbio FCell’s approach kick-starts profitable hydrogen mobility services that meet urban needs, prior to the massive arrival of mainstream H2 vehicles.

—Laurent Noual, member of the Executive Committee of the Michelin Group

Comments

HarveyD

Good news for current and near future FCEVs.

H2 could be cheaper than gasoline in EU?

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