DCH Technology and Daido Metal Finalize Joint Venture
DCH Technology Inc. (Valencia, CA) announced that Daido Metal Ltd. (Nagoya, Japan) and DCH's wholly owned subsidiary, Enable Fuel Cells Corp. have finalized their joint venture agreement. The announcement was made to the Asian press in Nagoya, Japan.
DCH Chairman David Haberman and Daido President Segio Hanji formally launched the NeWave Fuel Cell Corp. (Japan) in conjunction with the 41st Battery Symposium taking place in Nagoya. Several newspapers attended the press conference and received a first look and demonstration of a prototype NeWave fuel cell. The same fuel cell was the only operating fuel cell at the symposium.
"It was very important to have a working fuel cell at the battery symposium, both for the audience it drew and because it took place in Nagoya, where NeWave will be headquartered," said Hanji. "We are extremely pleased to have gone from product concept to a demonstrable fuel cell in less than six months. It indicates, we believe, the competency and urgency with which we will bring fuel cells to strategic markets in Japan and the rest of Asia."
The first NeWave product will be a small portable PEM fuel cell providing up to 50W of power for the commercial market. Daido will market the fuel cell in Japan, China, and the rest of Asia and the Pacific Rim. Details are still confidential. First sales are targeted for the second quarter of 2001.