Matthews International GmbH

Take over account

Matthews International Corporation (NASDAQ: MATW), a global provider of industrial technologies through its Matthews Engineering business (encompassing Saueressig Engineering, Terrella Energy Systems, and OLBRICH GmbH), has established a strong position in hydrogen fuel cell bipolar plate manufacturing following its 2021 acquisition of Terrella Energy Systems, Ltd. (a Vancouver, Canada-based leader in the design and manufacture of bipolar graphite plates for hydrogen fuel cell power systems, founded 2012). The company entered a two-year Joint Development Agreement with Illuming Power Inc. in February 2022 to develop an automated, expanded graphite bipolar plate production line combining Matthews Saueressig Engineering and Terrella Group's expertise in rotary embossing/cutting tools with Illuming Power's materials and bipolar plate design/stack functionality expertise, dramatically reducing production costs and accelerating mass market adoption of fuel cells for transportation and stationary applications. Matthews established a Hydrogen Fuel Cell (HFC) Development Center in Burlington, North Carolina in February 2024 (supported by a North Carolina Rural Infrastructure Authority grant), relocating bipolar plate manufacturing and prototyping operations under the Terrella Energy brand, with capabilities to fabricate flat die and rotary embossing tooling for graphite bipolar plates and a low-volume production line, strategically positioned within the Southern Automotive Corridor near EV automakers and battery manufacturers.