The Swatch Group Ltd. and Groupe E promote sustainable development by establishing a high-tech energy company.

The Swatch Group Ltd, the world leader in watchmaking, is to join forces with Groupe E, a major international bank, the Swiss institutes of technology, Hayek Engineering and other interested parties to establish a holding company for the development and production of clean, renewable energy systems. Together with special partners from, for instance, the automobile industry, this holding company will be able to establish specific affiliated companies. At a later stage, the company may be listed on the stock market.

The aim of this special agreement between The Swatch Group Ltd. and Groupe E is to develop, produce and market energy production systems based on hydrogen and fuel cells. The goal is to provide the population with electricity for both residential and transport purposes. This will allow considerable progress to be made in producing entirely clean energy, with the aim of saving the environment and providing a substitute for CO2 emissions. The two companies have extensive expertise in this area...