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Masterflex offloads e-bikes, looks to sell or partner on fuel cell activities

The German industrial hoses manufacturer Masterflex AG has sold off its bicycle and e-bike activities. The company is also looking to sell off – or work with a strong partner – on its remaining fuel cell technology activities, which still have good potential.

Masterflex has concluded the sale of its 51 percent equity interest in Berlin-based Clean Air Bike GmbH, and its 100 percent share in Velodrive GmbH in Herten, with the equity interests transferred to the undisclosed purchaser.

The only ‘mobility’ unit activity left in the Masterflex group is the fuel cell technology unit, but Masterflex is planning either to dispose of this segment or to partner with a strong third party.

Masterflex Brennstoffzellentechnik GmbH is a specialist provider of fuel cell based energy supply systems for mobile, portable, and stationary applications for indoor and outdoor use. These systems supply energy using hydrogen produced regeneratively, with the option to combine this with renewable energy sources.

‘Our fuel cell technology features interesting in-house developments, and enjoys a good position on the market,’ says Dr Andreas Bastin, CEO of Masterflex AG. ‘We are offering these activities for sale, or looking to join forces with a strong partner.’

Bastin continues: ‘We are prioritizing the security of our high-margin core business ahead of the opportunities presented by fuel cell technology, which still requires intensive development and investment.’

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Energy storage including Fuel cells  •  Policy, investment and markets