SFC Energy AG (“SFC”, F3C:DE, ISIN: DE0007568578), a leading provider of hydrogen and methanol fuel cells for stationary, portable and mobile hybrid power solutions, has completed the acquisition of selected assets of the stationary hydrogen fuel cell business in Scandinavia – including IP rights and customer contracts – from Ballard Power Systems Europe A/S (BPSE).
With the acquisition of the assets for stationary hydrogen fuel cell solutions with an output of 1.7 kW and 5 kW now completed – following the granting of all necessary regulatory approvals – SFC now has the world's comprehensive product portfolio of stationary fuel cells in the output range below 50 kW. The existing installed base of the acquired BSPE hydrogen fuel cell solutions at approximately 400 locations in Denmark, Norway, Sweden and Finland as well as the associated established customer relationships and service contracts form a solid starting point for further expansion in Northern Europe and beyond.
The subsidiary SFC Energy Denmark ApS (SFC Denmark), which was founded specifically for sales, service, application engineering, and assembly, is intended to drive market penetration in the Northern European regions. Research and development activities as well as the production of hydrogen fuel cell solutions will be integrated into the existing SFC organisations at the locations in Germany and the new production facility in Romania.
The SFC Management Board continues to expect, as published in the original press release of 2 October 2024, that the acquired new business will generate sales in the mid-single-digit million Euro range and positive contributions to EBITDA and EBIT from 2025 onwards.
