Through this partnership, the joint venture will acquire AEM stacks from Enapter and then produce our AEM Electrolyser products locally in China for the Chinese market, the German-Italian electrolyser manufacturer Enapter announced.
Enapter will hold a 49% stake in the joint venture company and grant it an exclusive licence for the sale and production of AEM Electrolysers in China, for which we will receive a licence fee of 3% of future sales. Our team will also provide fee-based engineering services and technical support to the joint venture.
Wolong will hold a 51% stake and contribute around EUR 2 million in cash to the joint venture company, as well as providing sufficient financing, production resources and local personnel to set up production, sales and support.
This JV agreement significantly expands the cooperation agreed in August 2023 including a framework supply contract worth more than EUR 6 million.
The production of our AEM stacks, which form the centrepiece of our AEM Electrolysers, will continue to take place at our production-site in Pisa, Italy.
Wolong Electric Group is one of the world’s top three motor and drive manufacturers and is also active in the renewable energy sector. The company has developed electrolyser converters for various power ranges and has a long and successful track record in pump and fan applications.
Photo of Enapter
Press release https://shorturl.at/fpKV5
