General Motors Corp. (GM, Detroit, MI) revealed that it is taking further steps toward the commercialization of fuel cells as a power source in cars and other applications with the construction of a new 7,200m² facility in upstate New York for fuel cell research. The center will be used to develop the materials and processes […]
Stuart Energy Systems Corp. (Toronto, ON) announced that it will take a one-time charge of CDN$6.0 million in its fourth-quarter 2002 financial results in connection with the retrofit of nine hydrogen systems, including costs related to customer support and inventory replacement. The affected components are covered under Stuart Energy's warranty program and are scheduled for […]
The chairman, CEO and board member of Tyco International Ltd. (Pembroke, Bermuda), L. Dennis Kozlowski, has resigned amid mounting criticism of his corporate strategy and a report that he is under investigation for avoiding personal taxes. The company said in a statement that Kozlowski left for "personal reasons," and that former CEO John Fort, a […]
Energy Co-Opportunity (ECO, Herndon, VA), an alternative-energy business owned by more than 300 electric cooperative utilities in the US, placed an order with H Power Corp. (Clifton, NJ) for 50 of its 500W EPAC direct hydrogen fuel cells. The purchase marks the first significant sale made under ECO's new contract with H Power, which gives […]
The US Fuel Cell Council (USFCC, Washington, DC) announced the release of its second edition of the US Fuel Cell Council Media Guide, a detailed listing of the organizations leading the fuel cell industry. The Media Guide provides detailed listings for more than 100 fuel cell developers and manufacturers, key component suppliers, research institutions, and […]
Exide Technologies (Princeton, NJ) announced that Craig Muhlhauser has been named Chairman of the Board of Directors of Exide, effective May 17, 2002. Muhlhauser succeeds Robert Lutz, who resigned as chairman, but will remain a director of Exide. Lutz had been chairman since December 1998. Muhlhauser has been a director and CEO since September 2001. […]
Altair Nanotechnologies Inc. (Reno, NV) reported its financial results for the first quarter ended March 31, 2002. For the three months ended March 31, 2002, Altair reported net revenues of $48,937, surpassing revenues of $42,816 for the entire year of 2001. The company reported a net loss for the quarter of $1.7 million, or a […]
Absopulse Electronics Ltd. (Carp, ON) released the REW60-24, a 24Vdc, single-output, compact, UPS plug-in module with an ac-input range of 95Vac to...
Sustainable Energy Technologies Ltd. (Alberta, Canada) announced that the previously announced private placement of 41,666 units at a price of $12 per unit has been fully subscribed, for an aggregate consideration of $499,992. Each unit consists of 100 10-percent, two-year, cumulative, convertible, redeemable, voting preferred shares and 50 two-year, $0.12, common-share, purchase warrants. Each preferred […]
Maxim Integrated Products Inc. (Sunnyvale, CA) announced its new MAX6709 and MAX6714 quad-voltage monitors, which provide fixed thresholds to monitor 1.8V to...
Chairman and CEO Chuck Watson of Dynegy Inc. (Houston, TX), who led Dynegy's failed attempt to take over Enron Corp. (Houston, TX), resigned as chairman and chief executive amid an industry-wide scandal over sham energy trades, investigations by federal regulators, and pressure on Dynegy's stock and debt ratings. Glenn Tilton, vice chairman of ChevronTexaco Corp. […]
Sure Power Corp. (Danbury, CT) began the benchmarking phase of a $2.2 million US Department of Energy award that will lead to the development of an innovative distributed energy, combined heat and power system. Sure Power expects to complete the benchmarking phase and the customization of the system design before the end of 2002. The […]
MagneTek Inc. (Nashville, TN) announced that it has acquired LAB Communications (Las Vegas, NV), a privately held mobile and fixed power systems integrator. While terms of the transaction were not announced, LAB is expected to be accretive to MagneTek's earnings in fiscal 2003, which commences on July 1, 2002. MagneTek CEO Andrew Galef stated, "Although […]
Invensys plc (London, England) announced the appointment of Dan Leff to lead its Energy Management Division. Leff joins Invensys from a position as Chairman and CEO of the Energy Services Division of Enron Corp., where he was appointed to the role in late December 2001 following the company's filing for chapter 11 bankruptcy. Invensys CEO […]
IXYS Corp. (Santa Clara, CA) announces the introduction of its new MII 400-12E4 dual-pack, 400A/1,200V, IGBT module, which is suitable for high-power inverters for such applications as ac and dc motor drives, motor drives for electric vehicles and mass transit systems, electric welding, and high-power UPSs. The new MII 400-12E4 IGBT module is rated at […]