Honda and Celanese Sign Agreement to Improve Automotive Fuel Cell Systems
KRONBERG, Germany, Dec. 4 /PRNewswire/ -- Celanese AG (NYSE: CZ) and Honda today announced that their research subsidiaries Celanese Ventures GmbH, Germany, and Honda R&D Co., Ltd., Japan, will cooperate in the development of membranes and membrane electrode assemblies (MEA) for automotive fuel cells. The purpose of this joint development is to improve the performance of automotive fuel cells, while at the same time making them less expensive.
MEAs are made up of solid polymer membranes and catalytic electrodes. These two components control a reaction between hydrogen and oxygen which produces electricity to power a vehicle.
Celanese Ventures GmbH has developed a solid polymer membrane for MEAs. (The Celanese fuel cell project is described in more detail on their website -- http://www.celanese.com/en/files/fuel_cell_1200e.pdf). The cooperation with Honda R&D is expected to result in the development of a more efficient fuel cell system.
Ernst Schadow, Board member of Celanese AG, praised the agreement: "It is our intent to become the leading MEA supplier to the emerging fuel cell industry. This agreement with Honda is crucial to our success in the automotive sector."
Celanese AG is a global chemicals company with leading positions in its key products and world class process technology. The Celanese portfolio consists of five main businesses; Acetyl Products, Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products. The Performance Products business consists of oriented polypropylene films (OPP), sweeteners and food ingredients.
Celanese generated sales of around euro 4.3 billion (excluding discontinued operations) in 1999 and has about 13,900 employees. The company has 32 production plants and six research centers in eight countries mainly in North America, Europe and Asia. Celanese AG shares are listed on the Frankfurt stock exchange (stock exchange symbol CZZ) and on the New York Stock Exchange (symbol CZ).
For further information please visit Celanese AG's website (http://www.celanese.com)
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company.
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