Rolls-Royce in fuel cell venture with Singapore consortium
British engine-maker Rolls-Royce signed an agreement today with a Singapore consortium to invest $100m (€77.6m) to develop a commercially viable power system based on fuel cell technology.
Rolls-Royce will provide 75% of the investment while the Singapore consortium, comprising the Economic Development Board, Temasek Holdings Pte and Accuron Technologies, will invest the remaining quarter.
A fuel cell produces electricity by combining fuel and air in an electro-chemical reaction.
The technology dates back to the 19th century, but there are few commercial applications because of high costs.
“Temasek sees strong commercial potential in the solid oxide fuel cell being developed by RRFCS” or Rolls-Royce Fuel Cell Systens, said Pan Suan Swee, Temasek’s managing director for strategic development.
