Dive Summary:
- ClearEdge Power has closed its acquisition deal of UTC Power, which primarily sells its fuel cells in the U.S. and was previously one of ClearEdge's largest competitors.
- UTC had approximately 375 workers before the acquisition, but no announcement has been made regarding potential layoffs as the companies merge; the Connecticut office will remain open.
- ClearEdge primarily produces cells for residential buildings, while UTC's equipment is intended for hospitals and supermarkets.
From the article:
The deal will not have an immediate impact on Hillsboro staff or facilities, said spokeswoman Jennifer Sager.
Founded in 2003, ClearEdge makes stationary fuel cells which power commercial and residential buildings. UTC's fuel cells are geared more toward big buildings like hospitals and supermarkets, as well as for fleet buses. ...