Rolls-Royce has signed an agreement with a Singaporean consortium of companies to jointly invest $100 million in developing a commercially viable power system based on fuel cell technology.
Having begun research into fuel cell technology in 1992, Rolls-Royce established a wholly-owned subsidiary, Rolls-Royce Fuel Cell Systems (RRFCS), in January 2003 to manage its future research and development activities in this field.
Under the terms of the agreement, Rolls-Royce and the
Rolls-Royce said in a statement that the
“The science of the fuel cell is no secret – but turning it into an affordable and competitive technology will need engineering skills of a high order,” said Charles Coltman, the Chairman and Chief Executive of RRFCS and formerly the Director of Corporate Development at Rolls-Royce. “We are on track and cautiously optimistic.”