Patrick Koller, CEO of Faurecia: "Faurecia has the ambition to become a leading supplier of fuel cell technology. We believe in this new energy vehicle alternative which has increased autonomy and rapid refueling time. In addition, hydrogen can be produced locally using sustainable technology. "
Fuel cell technology is a long term electric vehicle solution which offers increased autonomy (over 500 km) and quicker refueling time compared to battery electric vehicles. By 2035, Faurecia estimates that 5 million vehicles equipped with fuel cell technology could be in production. Carbon fiber composite is the ideal material for hydrogen tanks which have to withstand the high pressure (700bars) whilst being as light as possible.
This acquisition complements the investment that Faurecia recently made in Ad-Venta, a specialist in pressure valves for efficient and safe hydrogen storage. Ad-Venta developed a unique, reliable and compact valve which allows pressure management from 700 to 10 bars for delivery to the fuel cell.
Faurecia is one of the world's largest automotive equipment suppliers, with three key Business Groups: Seating, Interiors and Clean Mobility. In 2016, the Group posted total sales of $20.7 billion. On December 31, 2016, Faurecia employed 100,000 people in 34 countries at 330 sites and 30 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter (OTC) market. For more information, visit www.faurecia.com
About STELIA Aerospace Composites
100% subsidiary of STELIA Aerospace Group (€2.1 billion revenues, 6600 employees), STELIA Aerospace Composites is a key player in high-performance composites products in Europe and a major industrial partner in high-technology fields: Aeronautics, Space & Defence. Its competencies cover design, justification, industrialization & manufacturing of structural parts, complex elementary parts, aircrafts' interiors, high pressure gas storage tanks.
To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/faurecia-to-develop-and-manufacture-fuel-cell-tanks-for-electric-vehicles-with-stelia-aerospace-composites-expertise-300458201.html
STELIA Aerospace Composites
STELIA Aerospace Group
Media, Eric Fohlen-Weill, Head of Media Relations, Tel: +33 (0) 1 72 36 72 58, eric.fohlen- Email Contact Analysts/Investors, Eric-Alain Michelis, Director of Financial Communications, Tel: +33 (0) 1 72 36 75 70, eric- Email Contact