Symbio, a Michelin and Faurecia hydrogen company, and Schaeffler signed an agreement for the creation of a 50:50 joint venture to produce fuel cell bipolar plates for global
mobility and energy solutions. The JV will be located in Haguenau, in the Alsace region, France. It will combine the know-how of leading European automotive suppliers and a global leader in automotive fuel cell technology who together see vast potential in the developing hydrogen economy. It will also build a Franco-German partnership aiming at strengthening the European hydrogen mobility value chain.
The company, which will be operational under the brand name Innoplate by the end of the year will accelerate the production of next generation BPP for the entire proton exchange membrane (PEM) fuel cell market, thus enhancing performance, capacity and cost competitiveness for its customers. The joint venture is expected to be established by the end of 2022, subject to customary conditions precedent such as applicable merger control clearances.