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Frost & Sullivan Names MTI Micro Fuel Cell Entrepreneurial Company of the Year

Frost & Sullivan, a leading market research company, has named MTI MicroFuel Cells, Inc. (MTI Micro) the 2005 Fuel Cell Entrepreneurial Company of the Year. MTI Micro was the first to commercialize and ship a micro fuel cell product in 2004. “To become a truly entrepreneurial-spirited company, many aspects are considered from product development and innovation, to strategic partnerships and achievement of financial resources to ensure a large probability of success,” says Frost & Sullivan research manager Sara Bradford. Since 2001, the company has striven to develop and strengthen necessary platforms to bring micro fuel cell technology from conceptual stage to product launch. This infant industry faces many challenges including slow adoption new technology, lack of cartridge/fuel refill standardization, transportability of cartridges, and growth from low to high volume manufacturing with decreasing cost curves. MTI Micro achieved numerous patent-pending designs with the ultimate goal of overcoming a key challenge micro fuel cell technologies face – compact size. Its innovative internal design requires no pumps or re-circulation loops, therefore, creating a simpler design and streamlining the size of the cell. The company also gained multiple certifications that build end-user confidence in its safety and performance standards. In June 2004, MTI Micro […]

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SunOpta to Acquire Earthwise Processors

SunOpta Inc.(Nasdaq:STKL; TSX:SOY) has reached an agreement to acquire the assets and business of Earthwise Processors LLC, of Moorhead, Minnesota. Earthwise has annual revenues in excess of $10 million dollars and is a vertically integrated producer of organic and identity preserved non-genetically modified grains, primarily focused on soy. This acquisition provides SunOpta with an expanded and diversified grower base, expansion of soy product offerings, and others such as, organic flax and organic wheat, plus operating synergies. SunOpta is targeting to close this transaction at the end of May. Steve Bromley, President and COO of SunOpta Inc., commented that “We know this business model well, have many of the same customers and operations will be easily consolidated within our existing grain operations.” SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. For the last seven consecutive years, SunOpta was included in Profit magazine’s ‘Profit 100’ list of the 100 fastest growing companies in Canada. Website: http://www.sunopta.com     

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Hydrogenics Signs Army Contract for Fuel Cell System

Hydrogenics Corporation (NASDAQ:HYGS; TSX:HYG) announced it has signed a contract to manufacture a self-contained regenerative fuel cell power system to provide auxiliary power for a U.S. Army Stryker Light Armoured Vehicle (LAV). This is a collaborative government project whereby Radian Inc. has entered into a contract with the United States Army (TACOM/TARDEC), and Hydrogenics has signed a defence industrial research contract with Defence R&D Canada, an agency of the Canadian Department of National Defence. The regenerative power system, an integrated configuration of Hydrogenics’ proprietary proton exchange membrane (PEM) fuel cell and electrolyser technologies, is designed specifically to extend the silent watch capabilities of the Stryker LAV. Radian Inc. is responsible for the on-board integration of the auxiliary power system and its testing and validation. As part of the 12-month project, the LAV will be tested and demonstrated for the U.S. Army. “The military is one of the early adopters for hydrogen fuel cells because it has special needs for quiet and cool temperature operations. In addition, a regenerative system such as this one removes the need to carry an additional fuel into the field,” said Pierre Rivard, President and CEO of Hydrogenics. The electrolyzer component of the on-board regenerative system […]

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Hydrogen Highway Plan Moves Forward

Gov. Arnold Schwarzenegger will advocate that California invest $54 million in public money to help build a network of up to 100 hydrogen fueling stations statewide within five years, according to new details of his “Hydrogen Highway” plan. A team of more than 200 scientists, automakers and environmentalists spent a year drafting the 144-page document, which the governor requested last year, calling hydrogen-powered cars a way to reduce smog, slow global warming and wean the nation from oil. The “California Hydrogen Highway Blueprint” is set to be formally unveiled Thursday in Sacramento. If state lawmakers approve funding, California would move ahead of the 13 other states pursuing hydrogen initiatives. The plan concludes that California can help speed a national transition from gasoline vehicles to environmentally friendly hydrogen fuel cell cars — whose tailpipes emit only water vapor. The money would provide matching funds to industry to build up to 100 hydrogen fueling stations in the Bay Area, Sacramento, Los Angeles and San Diego. Because 39 already exist or are planned soon, 61 new stations, at a cost of about $1 million each, would need to be built by 2010, the report says. Funding also would provide state grants to automakers […]

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