PRESS RELEASE: Billerica, Mass. – On December 18, 2014, Nuvera Fuel Cells, Inc., manufacturer of fuel cell systems and hydrogen generation and refueling equipment, was acquired by NACCO Materials Handling Group, Inc. the operating company of Hyster-Yale Materials Handling, Inc. (NYSE: HY). The acquisition marks a major milestone in Nuvera’s commercialization of clean energy solutions.
Hyster-Yale Materials Handling, a leading lift truck manufacturer, intends to begin rapid development of Nuvera’s fuel cell technology across large parts of the Hyster® and Yale® product line. In so doing, Hyster-Yale believes it will become the first major lift truck company committed to full deployment of fuel cell motive power and on-site hydrogen generation and supply solutions for the material handling market. Nuvera, a leader in developing hydrogen solutions for industrial mobility, transportation, and industrial gas markets, offers unique capabilities to integrate fuel cells with lift trucks based on its prior development of PowerEdge™ hybrid fuel cell power packs.
Nuvera’s PowerTap™ equipment provides small- and large-scale hydrogen fuel supply for fuel cell-powered industrial vehicles. The Hyster-Yale/Nuvera union will provide forklift fleet customers with increased power options for electric trucks and a single-source hydrogen solution. These options will accommodate aftermarket retrofit solutions for any brand electric powered lift truck in the market today.
Hyster-Yale is committed to bringing Nuvera’s premium hydrogen products and advanced fuel cell technology to customers who demand quality, reliability, and lowest cost of ownership.
Hyster-Yale Materials Handling, Inc. (formerly NACCO Materials Handling Group, Inc.), headquartered in Cleveland, Ohio, through its wholly-owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Nuvera Fuels Cells, LLC, a subsidiary of Hyster-Yale Group, is an alternative-power technology company focused on fuel cell stacks and related systems, on-site hydrogen production and dispensing systems. For more information about Hyster-Yale Materials Handling, Inc. and its subsidiaries visit the Company’s website at www.hyster-yale.com.
ABOUT NUVERA FUEL CELLS, LLC
Nuvera Fuel Cells is an alternative-power technology company focused on fuel cell stacks and related systems, on-site hydrogen production and dispensing systems for both commercial end-users and OEMs. Located in the U.S. and Europe, Nuvera manufactures hydrogen supply and fuel cell power products designed for efficiency, safety, and productivity. Discover the 6 key value drivers for using hydrogen fuel cell systems in materials handling.
Nuvera Fuel Cells, LLC is a subsidiary of Hyster-Yale Group, Inc., which designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Hyster-Yale Group is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY).