Texaco, Energy Conversion Devices, Inc. Form Hydrogen Storage Venture

Autoparts Report,  Nov 15, 2000  

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Texaco Energy Systems Inc. (TESI) and Energy Conversion Devices, Inc. (ECD) said they have formed Texaco Ovonic Hydrogen Systems L.L.C., a 50-50 joint venture to further develop and advance the commercialization of ECD's technology to store hydrogen in metal hydrides. Other types of hydrogen storage systems rely upon compression or liquid hydrogen.

Under the terms of the joint venture agreement, ECD said it will provide proprietary technology, while TESI will provide additional technological support and funding during the product development and pre-production phase of the company's operations.

Commenting on the announcement, William M. Wicker, Texaco Inc. Senior Vice President, said, "The formation of Texaco Ovonic Hydrogen Systems further extends the strategic relationship Texaco and ECD established earlier this year. ECD's proprietary metal hydride hydrogen storage technology has the potential to overcome one of the key challenges to making fuel cells and other hydrogen-dependent energy sources practical, efficient and safe. We are confident that the formation of this joint venture will move us forward to achieving this important goal."

In a joint statement, Stanford R. Ovshinsky, ECD President and CEO, and Robert C. Stempel, ECD Chairman, said, "At ECD, we have focused for many years on a seamless hydrogen system that can make the hydrogen economy a reality. This joint venture is an important contribution to the overall system."

Troy, Mich.-based ECD is a developer of advanced energy technologies, including hydrogen storage, advanced nickel metal hydride (NiMH) batteries, thin-film photovoltaics and fuel cells. ECD said it's metal hydride hydrogen storage technology is being developed for use in the full range of commercial applications, including onboard hydrogen storage that will facilitate the eventual development of fuel cell powered cars and enable vehicles using internal combustion engines to burn hydrogen directly, meeting the ultra low emission vehicle standards.

In refueling stations, this technology has the potential to become the industry standard for bulk hydrogen storage, and could speed the commercialization of not only hydrogen powered vehicles, but also other small and large, portable and stationary, hydrogen-based power sources, EDC said. TESI, a wholly owned subsidiary of Texaco Inc., is focused on commercialization efforts in fuel cells and other advanced energy technologies, including the development of viable fuel- processing technology for fuel cells.

COPYRIGHT 2000 Ron DeMarines
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