TechSys Forges Licenses for Its SOFC Technology

July 02, 2002 by Jeff Shepard

TechSys Inc. (Florham Park, NJ) announced that Fuel Cell Companies Inc. (FCCI, Mahwah, NJ) has signed an agreement enabling it to become the exclusive manufacturer and distributor for TechSys' solid-oxide fuel cell (SOFC) products in the Republic of China and portions of South America. Pursuant to the agreement, FCCI will assume all costs for manufacturing, marketing and distributing the SOFCs in the licensed territories and is required to meet certain performance thresholds to maintain the license.

TechSys President and COO Keith Blakely said, "Given the accelerated pace of development of our solid-oxide fuel cell, including the recent publication of a patent for the solid-oxide fuel cell technology, it is important for us to forge the relationships that will bring our product to market, and prepare the groundwork that will ease the transition from research and development to sales and marketing. These licenses represent the first of many steps we intend to take to build the infrastructure necessary to move toward commercialization of these products."