ClearEdge Power to Acquire United Technologies Fuel Cells Unit UTC Power
02 Jan 2013
United Technologies Corp. announced on 22 December that it is to divest its UTC Power fuel cells business unit to ClearEdge Power. The terms of the agreement were not disclosed. The transaction is subject to customary closing conditions; closing is expected early in 2013.
United Technologies Corp. is engaged in a portfolio transformation to focus on its core business of aerospace and building systems.
“We are excited about the strategic combination of ClearEdge Power and UTC Power to address the demand for clean, continuous, distributed power solutions”, said ClearEdge Power President and CEO, David B. Wright. “The wealth of talent, intellectual capital, and technology platforms enables us to provide highly innovative product and service solutions to our customers.”
Photo: UTC Power
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