IFC and Buderun Heiztechnik Agree to Develop and Market Fuel Cells in Europe

International Fuel Cells (IFC, South Windsor, CT), a unit of United Technologies Corp., and Buderus Heiztechnik GmbH (Germany), a unit of Buderus AG, announced that they will work together to develop and market fuel cell systems for residential applications. Under the terms of the agreement, Buderus will market in Europe the 5kW IFC fuel cell system now being developed for homes and light commercial buildings. The two expect to test initial units, which operate on natural gas or propane, in European markets beginning in mid-2003. Buderus will offer the fuel cells in co-generation units, using the heat generated by the fuel cell for space heating and domestic hot water. IFC and Buderus will also explore other opportunities for fuel cells in Europe.

“This joint effort with Buderus, one of the largest and most respected heating equipment companies in Europe, is an important step in IFC's efforts to establish itself as the world leader in residential fuel cell units," said IFC President William Miller. “We look forward to working with Buderus in bringing this environmentally friendly technology to European customers."