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Article: FuelCell Energy To Combine Its Canadian Solid Oxide Fuel Cell Operations Into Versa Power Systems.
- Article from:
- Business Wire
- Article date:
- October 20, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DANBURY, Conn. -- Transaction Strengthens Solid Oxide Fuel Cell Technology Development Under U.S. Department of Energy's Solid State Energy Conversion Alliance Program
FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of large stationary fuel cell power plants for commercial and industrial customers, announced today that it has entered into an agreement to combine its Canadian solid oxide fuel cell (SOFC) operations into Versa Power Systems (Versa). In exchange, FuelCell Energy will receive stock in Versa, increasing its ownership position in Versa from 16 percent to 42 percent. Consolidating SOFC technology development into a single entity ...