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Article: INDUSTRY NEWS: Hard Times Force Out Going Concerns.
- Article from:
- Fuel Cell Technology News
- Article date:
- October 1, 2002
CopyrightCOPYRIGHT 2002 BCC Research. 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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Small fuel cell companies are finding it difficult to find investors due to the fall in the stock market, making prices cheap for established companies, the sluggish U.S. economy, and the slow pace of fuel cell adoption in the market place due to higher prices. A number of small fuel cell start-ups have gone and others could disappear before the end of the year.
Greenvolt Power is gone. Satellite Enterprises Corp. (46 Mount Gibraltar Heights S.E., Calgary, Alberta, Canada, T2Z 3R2) has acquired the assets of magnesium and saltwater fuel cell maker Greenvolt Power, Inc. (20 Varcrest Place NY, Calgary, Alberta, Canada A1 T3A 0B9; Tel: 403/650-6586). Thomas Faul ...