US: Texaco is buying into future of fuel cell power technology
Texaco, the third-biggest U.S. oil company, said it bought a 20 percent stake in Energy Conversion Devices, a developer of alternative-energy technologies such as fuel cells, for $67.3 million. Texaco will work with Energy Conversion to develop fuel cells, which generate power through a chemical reaction combining hydrogen and oxygen and emit little air pollution. The companies also will develop technology to store solid hydrogen.
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