Modine and Bloom Energy Report Licensing Agreement
Modine Manufacturing announced the company has reached a definitive agreement with Bloom Energy, developer of fuel cell-based distributed energy systems, under which Bloom Energy will license certain Modine-developed thermal management technology.
Under this licensing agreement, Bloom Energy will pay a one-time fee of US$12 million to Modine for the technology rights to produce thermal management systems using Modine’s technology. In addition, Modine will provide products and services to Bloom Energy through December 2009. Modine and Bloom Energy will continue to explore future collaborative projects in the field of fuel cell-based stationary power. The agreement was effective on October 7, 2008.
Source: Fuel Cell Today
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