Technology and Commercial Due Diligence
Technology & innovation management

Supporting a Northern European specialty chemicals company considering a strategic acquisition in fuel cell waste water treatment technology


Arthur D. Little conducted a detailed technical due diligence (TDD) on a fuel cell waste water treatment technology. The technology was a long way outside of the competence base of our client, which needed an external independent expert view of the technology’s potential.


The TDD included detailed “ground-up” assessment of the fundamental science, reactor & system design, pilot scale operational performance, durability & reliability, industrialization roadmap, IP & commercial strength, and key risks and implications.

We also reviewed their commercial agreements and their envisaged development roadmap.


Our analysis identified several key issues that needed to be addressed before any significant commercialization could occur.

As a result, our client was able to determine a reasonable value for the technology, consider other investment approaches, and determine a realistic commercialization roadmap.