Global downsizes fuel cell division

• Publisher: Elsevier Science
• Year: 2003
• Tongue: English
• Weight: 67 KB
• Volume: 2003
• Category: Article
• ISSN: 1464-2859
• DOI: 10.1016/s1464-2859(03)00716-8

✦ Synopsis

Calgary-based Global Thermoelectric has reduced its fuel cell division workforce by approximately one-third, or 47 employees, to reduce annual R&D expenditure by approximately C$5m (US$3.7m). The announcement is consistent with the company's strategy to focus on core technology development while maintaining prototype system capability.

The initiative is independent of but complementary to the previously announced proposed combination with California-based Quantum Technologies [FCB, June 2003]. During the course of Global's review to maximize shareholder value and create a sustainable SOFC program, it became clear that it needed to significantly cut expenditures and focus on its core competency and area of demonstrated leadership -the development of SOFC membrane and stack technology. This reduction in expenditure follows a cost reduction initiative last November.

Global is retaining sufficient system capability to develop and assemble prototype and demonstration fuel cell systems, and will be in a position to deliver its next-generation natural gas fuel cell prototype -called Aurora -later this year. The commercialization timeline for core SOFC components such as the fuel cell membrane and stack are unaffected by the latest announcement.