French auto maker Renault and Nuvera Fuel Cells Inc. (Cambridge, MA) have signed an agreement to strengthen their partnership and continue collaborative efforts in fuel cell research and development. The deal gives Renault an equity stake in Nuvera, sets out the terms of a new research contract, and licenses Renault to use technology developed by Nuvera.
According to the agreement, Renault will acquire a 10-percent equity stake in Nuvera by contributing to Nuvera's capital increase. Nuvera's other shareholders are integrated energy company Amerada Hess Corp. (New York) and Italian electrochemistry company Gruppo De Nora. In addition, Renault and Nuvera agreed to terms on a new four-year research and development contract where Nuvera grants Renault a license to use its technology for automobiles and light-duty vehicles.
The contract extends a prior deal signed in 2002 for developing a hydrocarbon reformer adapted for automobile use. The on-board reformer converts gasoline to hydrogen, which is used to power the fuel cell that drives the vehicle. The initial contract is due to terminate later this year when Nuvera supplies Renault with a prototype of the unit.
