LG acquires shareholding in Rolls-Royce fuel-cell business

LG has invested $45m (£29m) to acquire a 51 per cent shareholding in Rolls-Royce Fuel Cell Systems (US).

Rolls-Royce Fuel Cell Systems (US), which is based in North Canton in Ohio, has changed its name to LG Fuel Cell Systems.

LG Fuel Cell Systems will continue to further the research, development, testing and commercialisation of solid oxide fuel-cell technology aimed at megawatt-scale distributed power generation for industrial, commercial and electric utility markets and applications.

LG Fuel Cell Systems will have access to Rolls-Royce technical expertise and continue to engage with the US Department of Energy’s Solid State Energy Conversion Alliance (SECA) programme.