Voller Energy Group PLC (UK), a manufacturer of portable fuel cells, announced that it has bought the assets of KAT-Chem GmbH, a developer of hydrogen reformer technology, for a maximum of £250,000. The company also announced the appointment of Mark Turpin as Chief Technology Officer.
Under the deal, Voller Energy is acquiring two patent applications, two employees, analytical equipment and a number of fixed assets from KAT-Chem. KAT-Chem has an existing laboratory in Bremen that Voller Energy will take over.
The total purchase price for KAT-Chem, £150,000, is payable on completion and a further £100,000 is contingent on future sales of products using the KAT-chem reformer technology. KAT-Chem is a unit of MIR-Chem GmbH, which was founded in 2001 by academics from the University of Bremen in northern Germany.
