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Swatch Boss Nicolas Hayek Sets Up Clean
Energy Holding for Fuel Cells, Electrolysis .
BIEL/FRIBOURG, SWITZERLAND, August 29 - Clockwork Green:
Nicolas Hayek, the 79-year-old Swiss Godfather of Swatch watches and
tiny Smart cars, is setting up a new company to develop clean energy
systems centered on fuel cells and electrolysis.
The Swatch Group, based in Biel, said today it is joining forces
with the Swiss utility Groupe E; a, so far, unidentified major bank;
both the Lausanne and Zurich technical institutes; the
multi-disciplinary Paul Scherrer Institute; Hayek Engineering and other
entities in setting up a holding company for the development and
production of clean, renewable energy systems.
The story first broke last week in the Swiss magazine
“L’Hebdo” which said Hayek wanted to invest Swiss Francs
20-30 million ($16.6-25 million) in fuel cell technology. Yesterday, a
spokesperson for the Swatch Group wouldn’t confirm the exact
numbers but told H&FCL they were generally in the ball park. It
wasn’t clear whether that would be only Hayek’s share or the
total startup funding contributed by all partners. Today, Swatch and
Groupe E announced the new holding in a joint release.
L’Hebdo quoted Hayek as saying that he wants to do
“everything in my power to accelerate the development of
alternative and renewable energies......In Switzerland, like everywhere
else in the world, we are moving much too slowly.”
Today’s joint release said Groupe E, based in Fribourg, has
experience in constructing industrial electrolysis-based hydrogen
production facilities and through cooperation with tire maker
Michelin’s r&d center.
(A more detailed story will be in the upcoming September issue of
The Hydrogen & Fuel Cell Letter)
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