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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Don Devlin who wrote (2286)	9/14/1998 2:47:00 AM
From: Krowbar	Respond to of 8393

GE Power Systems, Plug Power Forming 'GE Fuel Cell Systems' to Market Fuel Cells Worldwide SCHENECTADY, N.Y., Sept. 10 /PRNewswire/ -- GE Power Systems and Plug Power have signed a memorandum of understanding to form ''GE Fuel Cell Systems,'' a joint venture that will sell, install and service Plug Power-designed and manufactured fuel cell systems. Today's announcement follows Plug Power's recent demonstration of a prototype residential fuel cell system that produces more than enough power to meet the energy requirements of an average-sized home.... ...In June, Plug Power demonstrated its proprietary Plug Power 7000, a 7-kilowatt (kW) residential power system. The demonstration marked the first time a fuel cell has been used to meet a home's complete electricity requirements. The sale of test units is expected to begin early next year, followed by commercial units in the year 2000. Plug Power said that its initial units will operate on natural gas, propane or methanol and can achieve 40% electrical efficiency in simple-cycle operation. When excess heat generated by the fuel cell is captured and re-used, overall efficiency can reach 70-85%. To date, fuel cells have not been a desirable option for on-site power generation, due to their relatively high cost. Prices are expected to fall dramatically, however, as production volumes increase and manufacturing efficiencies are achieved. In mass production, a residential fuel cell system is expected to retail for $3,000-5,000. At these prices, fuel cells can generate electricity at 7-10 cents per kilowatt hour, depending on the fuel costs in a given market. About Plug Power Based in Latham, NY, Plug Power (http://www.plugpower.com) is a joint venture between DTE Energy Company (NYSE: DTE - news), parent company of Michigan's largest utility, and Mechanical Technology Inc.(OTC Bulletin Board: MKTY - news), an early developer of fuel cell technologies. Plug Power was formed to develop and manufacture fuel cells for electric power generation in residential and automotive applications. Formed in June 1997, Plug Power has grown from 22 to more than 135 employees, and expects to expand to 300 when it begins mass manufacturing of commercial units. The National Energy Resources Organization awarded Plug Power the 1998 Research and Development Award for its fuel cell breakthroughs. About GE Power Systems GE Power Systems is one of General Electric's major businesses and is the world's leading supplier of power generation technology, energy services and energy management systems. GE Power Systems serves customers globally through a network of local offices and service centers... biz.yahoo.com Looks like more trouble for Ballard than us, though this may cut into future sales of solar panels in areas not served by the power grid, but with propane or natural gas available. From the looks of the size of the unit, I don't see where it wouldn't be able to fit in a car. I agree with Bob Stemple that no matter which technology will be used in hybrids, batteries will still be needed for load leveling and power surges. The power companies should be getting nervous. This is not 10 years away, but 2 years, and with the backing of GE. I'll have to see that ad in Motor Trend. That is good news. Del