Cleary Gottlieb represented Chemours Company (Chemours) in entering into a hydrogen joint venture with BWT FUMATECH Mobility GmbH (FUMATECH).
The 50-50 partnership aims to take the lead in servicing the hydrogen economy pipeline with a supply of highly engineered HDFC membranes—a critical technology in the global pursuit for decarbonization.
At the outset, the joint venture company will prioritize supply to the European Union, U.S., Japan, and Korean markets, enabling downstream customers to accelerate broad conversion to green, hydrogen-powered heavy-duty transportation. Both companies will make a substantial capital investments. FUMATECH will utilize its existing production technology and line operations to turn Chemours Nafion polymers into end-product membranes. The companies estimate that within 12 months of start-up, the joint venture will be able to substantially ramp up capacity of manufacturing heavy-duty humidifier and fuel cell membranes for key customers.
Chemours, inventor of Nafion and headquartered in Wilmington, Delaware, is a global leader in the manufacture of specialty materials delivering customized solutions for a variety of markets, including coatings, plastics, refrigeration, air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas.
FUMATECH (Functional Membranes and Plant Technology) is part of Austrian-based BWT, a private water treatment company founded in the 1990. Headquartered in Bietigheim-Bissingen, Germany, FUMATECH has established itself as a technological pioneer in the production of fuel cell membranes and ion-exchange membranes for energy storage and separation technology.