May 13, 2014: WATT Fuel Cell Acquires Pittsburgh Electric Engines
Acquisition to Expand WATT’s System Power Range, Market Application Capabilities
PORT WASHINGTON, N.Y. — WATT Fuel Cell Corp., a developer and manufacturer of solid oxide fuel cell (SOFC) components and systems, has announced its purchase of tubular SOFC developer Pittsburgh Electric Engines Inc. (PEEI), Mt. Pleasant, Pennsylvania. The acquisition agreement makes PEEI a wholly owned subsidiary of WATT and facilitates combining both companies’ fuel cell technologies and personnel into a single entity.
Dr. Caine Finnerty, president and CEO of WATT Fuel Cell, said, “With more than 37,000 hours of run time on its technology, PEEI has clearly established the legitimacy of tubular fuel cells in commercial applications. When combined with the technology already available at WATT, the larger tubular cell format developed by PEEI will substantially widen the scope of addressable markets.”