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

To: fred whitridge who wrote (3488)	4/2/1999 2:05:00 PM
From: Krowbar	Respond to of 8393

I'm assuming that most of you are aware of this development.... ------------------------------------------ GENERAL ELECTRIC AND PLUG POWER FINALIZE JOINT VENTURE TO SELL FUEL CELLS WORLDWIDE 11 Feb 1999 LATHAM, NY - Latham, N.Y. - GE Power Systems and Plug Power announced today that they have finalized an agreement to create "GE Fuel Cell Systems," a joint venture company that will distribute fuel cell systems worldwide.... GE Fuel Cell Systems will market, sell, install and service Plug Power-designed and -manufactured fuel cells, up to 35kW, for residential and small business power applications on a worldwide basis. Field-testing will begin later this year and continue through the year 2000. GE Fuel Cell Systems expects to offer commercial units beginning in January 2001. "This joint venture adds another technology-based solution to our expanding portfolio of products and services," said Robert L. Nardelli, President and Chief Executive Officer of GE Power Systems. Fuel cell technology has the potential to provide an environmentally friendly and economical alternative for customers seeking to generate power at the point of consumption... Fuel cell systems can be sized to match consumers' specific energy requirements and in many regions,will provide an attractive alternative to grid-supplied power. Another major benefit is the elimination of the cost and inconvenience associated with power outages. To date, fuel cells have not been a viable option for small-scale power generation due to their relatively high cost. However, due to technical and production advances by Plug Power, GE Fuel Cell Systems expects to offer residential-sized systems in 2001 for $7,500 to $10,000. Moreover, prices are expected to fall dramatically over time as production volumes increase and manufacturing efficiencies are achieved. In mass production, a residential fuel cell system is expected to retail for approximately $3,500. At that price, fuel cells can generate electricity at 7-10 cents per kilowatt-hour, depending on usage and the fuel costs in a given market. plugpower.com --------------------------- Hmmm, a residential system for $7,500 in 2001, and $3,500 in a few years? The system that they show doesn't look all that large, and includes an inverter and battery storage. It would seem that the technology wouldn't have to be modified too much to work in a car. Anyway, I think that there will be a big market for this device for building houses in areas where it is too expensive to run lines from the power grid. Del