BASF Future Business to buy PEMEAS - leading supplier of fuel cell components
BASF extends position in high-growth market for fuel cells
BASF Future Business GmbH, Ludwigshafen, has agreed to acquire Frankfurt-based PEMEAS GmbH, supplier of fuel cell components, from a group made up of seven investors. No financial details were disclosed. The acquisition will be completed by the end of January. Through this move BASF is strengthening its activities in the field of energy management - one of five growth clusters, in which the company is developing new technologies and materials for energy storage and energy conversion, as well as for alternative energy capture.
PEMEAS was founded in April 2004 as a spin-off of the former Hoechst Group's fuel cell activities. The company has approximately 50 employees and operates manufacturing and R&D facilities in Germany and the United States. PEMEAS is currently working with clients on projects to use fuel cells, for example, in portable electronics, residential applications or backup power systems.
PEMEAS is currently pursuing two strategies. The Celtec division focuses on the development and commercialization of membrane electrode assemblies (MEAs) for high temperature polymer electrolyte membrane (PEM) fuel cells. These devices operate at temperatures between 120C to 180C, and are more reliable and cost efficient than conventional low temperature fuel cells. The E-TEK division develops and manufactures catalysts, gas diffusion layers and electrodes for low and high temperature PEM fuel cells as well as for direct methanol fuel cells (DMFC).
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