Volvo, Statoil form fuel cell joint venture

STOCKHOLM, Jun 13, 2005 -- AFX-UK

AB Volvo said it has formed a joint venture with Statoil ASA called Powercell, which will develop (engine) power units based on fuel cell technology, thus greatly improving environmental problems linked to idling engines.

Volvo said that if trucks were equipped with a power unit driven by fuel cells, the carbon dioxide emissions from a single truck could be reduced by an estimated 20 to 30 tons per year.

"As a result, trucks would not have to run at idle to have an electrical supply when they are parked," Volvo said.

It said the power unit from Powercell, features a newly patented technology and is so compact that it can be installed in standard trucks.

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