Palcan Signs Japanese Joint Marketing Agreement

July 15, 2003 by Jeff Shepard

Palcan Fuel Cells Ltd. (Burnaby, BC) announced a joint marketing agreement with Nagase and Co. Ltd. (Kyoto, Japan) to distribute fuel cell stacks and systems for the Japanese marketplace. Nagase, founded in 1832, has 100 subsidiary companies in Japan and overseas, and sales of US$4.19 billion.

The two companies will lever Nagase's expertise as a technology and intelligence-oriented trading company to deploy Palcan's fuel cells to the Japanese markets. Palcan's fuel cell is aimed directly at low-output applications where smaller internal combustion engines and batteries are the power source, including personal transport neighborhood electric vehicles and fleet-type vehicles used in closed-range environments; two-wheeled and three-wheeled scooters; and stationary, marine and portable power applications.