The biggest change under the previously announced strategic review concerns the Morphic Technologies group’s work on products and technology platforms. The revised strategy stresses the importance of ensuring that there is a clear thread running from market needs, through product planning and product development, to industrialization and delivery. All product development is to be based on clear goals formulated in a technical roadmap, and result in products that meet identified market needs.
This will require a series of changes in the group’s approach to product development. To improve efficiency, the activities of Helbio (which operates in fuel processing) are to be focused on its core business, and the company will become the group’s technology center for catalytic converter and reformer technology. Helbio’s core expertise is also applicable to AccaGen’s electrolyzer products. The AccaGen subsidiary is to become a technology center, and the production of electrolyzers and other components for energy storage may be outsourced.
The affiliated company Exergy Fuel Cells is to take over responsibility for the industrialization and manufacture of Helbio’s products. Exergy’s operations will be focused on the manufacture of complete fuel cell stacks and the integration of fuel processors.
To cut down the time-to-market, a common sales organization has been created to market all Morphic Fuel Cells products. The organization will serve as the point of contact with customers in all segments.
The scientific and industrial advisory council will offer guidance in connection with product development in the group, and present proposals for guidelines governing Morphic’s long-term activities. In addition to Martin Valfridsson, CEO of Morphic Technologies, the council will comprise Professor Lars Sjunnesson (E.ON and Lund University), Professor Peter Lindblad (Uppsala University), Professor Bengt-Erik Melander (Chalmers University of Technology), Professor Martin Rudberg (Linköping University), and financial and energy expert Birger Flygare.
Meanwhile, Morphic has completed a private placement, which raised about SEK32.7 million (US$4.1m) before modest administrative costs. The placement was aimed at a select group of investors, including the Foundation for Baltic and East European Studies (Östersjöstiftelsen).