Japanese electronics company TDK Corporation (TYO:6762) announced recently that its venture capital arm has invested in Israeli ammonia-to-energy hydrogen fuel cells supplier GenCell Energy.
The Tokyo-headquartered company did not disclose the size of its investment but noted that it is the first one in the renewable energy field made by the TDK corporate venture capital (CVC) fund since its inception a year ago.
GenCell manufactures emission-free alkaline fuel cells for use at long-duration backup telecom base stations, data centres, medical facilities, utilities and off-grid sites.
“TDK’s knowledge in process improvement, at-scale manufacturing and power supplies will help us deliver even higher-performance green products with lower total cost of ownership,” commented Rami Reshef, CEO of GenCell.
