Long Island Technology Briefs: January 4, 2008

Long Island Business News, Jan 4, 2008 by Alison Snyder

New catalysts to make hydrogen fuel cells cleaner

There's more on the green energy front from Brookhaven National Laboratory.

Researchers at the lab have discovered two new catalysts for use in fuel cell technology.

Fuel cells create electricity by converting oxygen and hydrogen into water and, as a power source, fuel cells have high energy efficiency and throw off zero pollution. However, a major problem with fuel cell technology is that the hydrogen-rich materials feeding the reaction often contain carbon monoxide. That carbon monoxide affects the platinum-based catalysts in the fuel cell, making the system less efficient.

So, with the goal of eliminating the impurities in hydrogen- heavy materials, BNL researchers have found two next generation catalysts - which include gold, cerium, titanium and oxygen nanomaterials - that are able to do this.

A water-gas shift reaction, aided by the catalysts, combines the carbon monoxide with water, yielding hydrogen gas and carbon dioxide. Using these new catalysts, the process converts almost 100 percent of the carbon monoxide into carbon dioxide.

2007 was a good year for CPI Aero

CPI Aerostructures has received a $1.4 million order from the U.S. Air Force under the company's C-5 transport plane contract, capping off what has been a busy year for the maker of aircraft parts for the U.S. Air Force, other branches of the military and defense contractors.

The Edgewood-based company said the order was comprised of wing spoilers, panels and formers. Orders under this contract with CPI have totaled $17.9 million to date.

In a statement, chief executive and President Edward Fred said the C-5 contract has produced an average of $5 million for the company per year.

Though the contract hadn't amounted to the "magnitude" the company hoped for, Fred said he has high hopes for the future.

"When the new spending bill is in place, we are hopeful of additional funding being allocated to the maintenance and refurbishment of the C-5 during this next government fiscal year," he said.

CPI said 2007 has been its largest order award year ever, totaling $37.7 million, compared to $30.0 million for 2006. In 2004, the company was awarded $34.9 million in contracts.

A total of $15 million from 2007's awards have been in subcontracts for major aerospace companies, up from $7 million last year.

CPI posted revenue of $7.3 million in the third quarter, up 64 percent from $4.4 million in the year-ago quarter.

EDO shareholders approve merger with ITT

Shareholders of defense contractor EDO Corp. voted to approve a merger with White Plains, N.Y.-based ITT Corp.

The deal met little opposition, with more than 75 percent of shareholders approving the merger.

The deal is valued at $1.7 billion, including the assumption of $120 million in debt, and was announced Sept. 17. ITT said it was buying EDO in an effort to broaden its presence in other markets.

EDO has operations in Amityville and Bohemia, employing more than 400 on Long Island.

The company's recent third-quarter earnings rose fivefold, with revenue and tax benefits boosting the company's profit to $11.2 million, up from $2.1 million in the same quarter in 2006. Sales rose 39 percent to $256.8 million from $184.4 million last year - but fell short of analyst predictions of $266.8 million.

The merger was completed on Dec. 20, with ITT stockholders receiving $56 per share.

Odyne's big bucket-truck order

Fixing downed lines will never be the same.

Hauppauge-based Odyne Corp. scored an order for 25 of its plug- in hybrid electric vehicle systems from Waukesha, Wis.-based Dueco Inc.

Odyne said the Wisconsin maker of utility equipment and vehicles will use its plug-in hybrid engines on bucket trucks, the types you see lifting electrical or cable workers in order to fix lines on telephone poles.

The engine, which is plugged in after-hours to recharge, couples with a diesel engine when driving. However, the Odyne system completely powers the vehicle's on-site functions, including the lift, air conditioning and heating systems.

Both companies claim the partnership will create the country's first hybrid-powered fleet of these types of utility trucks.