Meidensha Corp. (Tokyo, Japan) announced that it has agreed with the Power Generation Group of Siemens AG (Munich, Germany) to form a business alliance in the field of fuel cells. Under the agreement terms, the two companies will collaborate in developing, manufacturing and marketing a solid-oxide fuel cell system in Japan. As an initial step, the two companies will establish a joint venture at the earliest date possible.
Through the partnership, Meidensha aims to introduce an environmentally friendly power generating system to strengthen its power generation business. Meanwhile, Siemens intends to expand its presence in the Japanese fuel cell market where substantial growth is expected.
