On 29 December 2020, the respective general assemblies at Blue World Technologies and Danish Power Systems approved a combination of the two companies, whereby Danish Power Systems is acquired by and subsequently merged into Blue World Technologies to strengthen the market position of Blue World Technologies. The transaction follows the acquisition Blue World Technologies made in August 2019, where the company initially bought 15 % of the shares in Danish Power Systems. The transaction awaits the approval of the Danish Authorities.
For more than 25 years, Danish Power Systems has been working with high-temperature PEM (HT-PEM) technology and was one of the first companies in the world to start research and development activities within this technology. Based on its outstanding MEA-technology (membrane electrode assembly) Danish Power Systems is widely recognised around the world. Since Blue World Technologies was founded in 2018 with the vision and strategy to commercialise the methanol fuel cell technology, their fuel cell platform has been built using the MEA-technology of Danish Power Systems.
With the strong experience and competences of Danish Power Systems’ team, Blue World Technologies is able to accelerate product development to optimise the technology platform bridging R&D activities and market needs. With an industrial approach, Blue World Technologies is differentiated from most other manufacturers of methanol fuel cells and fuel cell systems, by having all technologies and core component manufacturing within the fuel cell stack value-chain in-house, and in some cases even to system level.
Blue World Technologies has initiated the commercialisation of the methanol fuel cell technology through large-scale production and is planning to start up pre-series production in mid-2021 with a production capacity of up to 5,000 units (50MW). The company is targeting to reach a full-scale commercial production capacity of up to 50,000 fuel cell units within three years.