BIC Group announced that its Canadian subsidiary, BIC Inc. has acquired the assets of Angstrom Power Inc., Vancouver, B.C., a company specializing in the development of portable fuel cell technology. The purchase price is CAD 18.7 million (approximately EUR 13.5 million).
A portable fuel cell device works with a replaceable fuel cartridge and provides charging capability to consumer electronic devices that have rechargeable batteries (e.g. smart phones, tablets, cell phones, gaming, GPS, etc.) and direct power to other electric indoor and outdoor devices. By offering instant, constant and extended power, portable fuel cells will give the consumer convenient access to power whenever and wherever needed, as an alternative to electricity from a wall outlet.