Secures MOU for hydrogen fuel cell technology commercialisation
Rouse China’s Springboard team celebrate the success of their client, Intelligent Energy Ltd (“IE”), a world-leading hydrogen fuel-cell technology company, in securing a three-way MOU with Wuhan Hynertech and Tri-Ring Group to integrate and commercialize IE’s hydrogen fuel cell technologies for commercial vehicles in China. The signing of the MOU between IE’s CEO and the two Chinese partners took place on 23 October in Wuhan and is announced by IE here.
Rouse’s Jing Wang-Winter, Director of Innovation and an automotive sector specialist, supported IE’s UK-based Business Development Director to approach and negotiate with potential partners across China, culminating in the deal with Hynertech, a provider of liquid hydrogen supplying and storage technologies, and Tri-Ring, a state-owned manufacturer of trucks, buses and automotive parts & systems. The MOU outlines a plan for a joint development agreement to build a demonstration vehicle followed by full-scale production of zero-emission vehicles powered by IE’s fuel cell technologies. The next stage of talks is now underway towards a comprehensive agreement.
Rouse’s Springboard programme is designed to support overseas technology companies to find partners and capital to deploy their technology in China with a particular emphasis on structuring and negotiating a deal to ensure the client’s core IP assets are preserved. The Springboard programme draws on Rouse’s 25 years of IP management and expertise and supported by its Chinese strategic partner, Lusheng, to provide legal services such as incorporation, license and JV agreements, data, trade secret and patent protection. The Springboard programme is led by Rouse China veteran Chris Bailey, a Principal of the firm, whose team has handled cross-border fundraising and deal making such as automotive, medical devices and cleantech. Chris said of the latest success, “My congratulations to Intelligent Energy for this exciting step, and my thanks to Wang Jing and the rest of my team for their hard work in helping to make this happen. There’s still plenty more to do and we look forward to working with IE to bring their unique technology into China’s hydrogen fuel ecosystem.”