VOL. XLIII

No. 21

22-May-2000

GENERAL

Texaco Buys 20% Interest In Hydrogen/Fuel Cell Technology Developer ECD

On 2 May Texaco became the latest petroleum major to enter the race to develop alternative transport fuels by announcing the acquisition of a 20% equity stake in hydrogen and fuel cell technology developer Energy Conversion Devices (ECD) of Troy, Michigan for $67.3mn. Besides the purchase, Texaco and ECD also announced that they have established joint ventures for the continued...