JAPAN: UTC's International Fuel Cells and Toshiba to Form Japanese Joint Venture
International Fuel Cells, a unit of United Technologies Corp. (NYSE: UTX), and Toshiba Corp. today announced plans to form a joint venture to develop and market stationary fuel cell technology in Japan. The joint venture will incorporate Toshiba's fuel cell development activities in Japan and focus on accelerating development of Proton Exchange Membrane (PEM) fuel cell technologies and on increasing sales of the PC25(TM) fuel cell power system.
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