Company Jensel , Which develops green energy solutions based on fuel cells for electricity generation using hydrogen and ammonia, reported today (Wednesday) that it has signed a strategic partnership with the international giant FIG Specializing, among other things, in the development and production of uninterruptible power supplies and related equipment. The Swiss ABB is traded on the stock exchanges in Switzerland and the US at a value of about $ 74 billion and has an annual turnover of about $ 30 billion.
Under the agreement, Jensel and ABB will promote a solution for reliable and continuous power supply over time during short and long power outages and without emissions. The solution that will be promoted is a backup power system that combines Gensel fuel cells and ABB uninterruptible power systems designed for critical infrastructure of trains, hospitals, commercial buildings, data centers and telecoms, but will not be limited to just these areas.
Gencel estimates that the collaboration with ABB may lead to the company entering new sectors, and is expected to shorten the time it will take it to reach new customers and territories and of course allow Gencel to offer its products to ABB customers worldwide. In addition, collaboration may lead to the development of innovative technical solutions for various needs, and help promote the company’s business in accordance with its goals and strategy.
Last July, Jensl reported that it had signed a framework agreement for strategic cooperation with communications giant Deutsche Telekom. The German company is designating Gencel’s fuel cell systems as an alternative to diesel-based generators – as part of the transition to green electricity.
Jensel, which is controlled by the mythical high-tech entrepreneur and businessman Benny Landa (who owns 31% of the shares), develops and produces fuel cells, which are an energy source for electricity production, which operate on hydrogen produced from ammonia, in a relatively economical and inexpensive production process. The company has products that are used as backup for the traditional electricity systems, and are intended mainly for large companies (hospitals, production lines, etc.), and as backup systems for the energy and communications infrastructure market (mainly the electricity and telecom companies).
The company, which operates in Petah Tikva, was founded in 2011 by Gandhi Finkelstein, Gil Shavit and CEO Rami Reshef (who owns 4.4% of its shares). Double-digit return since the IPO.