Government partners with Anglo
Platinum, Altergy to manufacture fuel cells in S. Africa I n South Africa, the government's Department of Science & Technology (DST) has partnered with platinum group metals producer Anglo Platinum and Altergy Systems, a US-based fuel cell developer, to establish a new company that will initially market and distribute the latter's hydrogen PEM fuel cell products, and ultimately manufacture fuel cells for the sub-Saharan African market.
The DST through its Technology Innovation Agency (TIA), Anglo Platinum through its Platinum Group Metals Development Fund (PGMD Fund), and California-based Altergy have agreed to establish a fuel cell marketing, distribution and manufacturing entity, called Clean Energy Inc, under a license arrangement.
Both the Technology Innovation Agency and the PGMD Fund will invest in the transaction, and along with Altergy, will each receive an equity position in Clean Energy. The equity allocation creates a 'partnering model' that aligns all shareholder objectives in Clean Energy to be channeled for commercial success.
The new company's initial primary objectives will be to develop a market for Altergy products by marketing and setting up a distribution network throughout the sub-Saharan region. Following the successful development of the market, Clean Energy will look to establish a manufacturing and assembly plant in South Africa, which will ultimately supply the sub-Saharan and worldwide markets with fuel cell products.
Altergy will initially provide market development services, and assembly line services once the manufacturing and assembly plant is commissioned.
'This initiative is in line with the DST's goal of promoting South Africa as a source of worldclass, high-technology transfer and infrastructure opportunities,' says Naledi Pandor, the SA minister for science & technology.
With 75% of the world's platinum group metals reserves, South Africa clearly wants to be an active participant in the nascent global hydrogen economy. This will ensure that South Africa enjoys the economic returns on beneficiation processes, and is able to promote the growth of its knowledge economy in line with its National Hydrogen & Fuel Cells Research, Development & Innovation Strategy (HySA). The DST-initiated HySA strategy -created in 2007 following approval by the South African Cabinet -is a culmination of various national DST policies in respect of R&D [FCB, November 2008].