Last November we told you about SymbioFCell, a French company founded in 2010 specializing in hydrogen technology which has developed fuel cell range extenders, a solution that has already attracted the french Post office actually testing it in Kangoo ZE (HyKangoo)!
While this partnership with the Post Office for real-life tests proves to be successful, and that SymbioFCell has managed get the EU approval for their solution, the company needed to increase their capital to get to the industrialization phase! It is in this sense that Michelin has announced a minority stake (rumor speaks of a figure around 33%), for an undisclosed amount.
As a reminder, SymbioFCell offers two range extender solutions running on hydrogen, a 5kW and 7.5kW that can double the range of an electric car.
This IPO will enable the industrialization of the technology and make it more affordable and commercially viable!
About synergies between the two entities, SymbioFCell will now work with the R&D department of the French giant that gets in turn a new specialty and technological advance in an field out of its original competences!