Baxi Group Acquires European Fuel Cell
Baxi Group Ltd. (UK) announced that it has acquired European Fuel Cell GmbH (EFC) from Hamburg Gas Consult GmbH (HGC, Hamburg, Germany), a subsidiary of EON. EFC has developed a domestic-scale, combined heat and power appliance, the Home Energy Centre, powered by fuel cell technology that is suitable for single or multiple housing. The Home Energy Center delivers 1.5kW power and 8kW of thermal heat. The Baxi Group intends to invest in the technology with the objective of developing a commercial appliance for the domestic market.
Mike Davies, CEO of Baxi Group, stated, "This acquisition compliments our recently announced acquisition of SenerTec, and further demonstrates our commitment to the development of fundamentally new home-heating technologies. Fuel cells are a long-term investment, unlikely to have full commercial potential for a number of years, though we plan to be in commercial production by 2004."