Through a partnership announced yesterday with Endesco, afor-profit subsidiary of the Institute of Gas Technology (IGT),NiSource Inc. subsidiary EnergyUSA said it is advancing plans tobecome a major provider of residential fuel cells in the emergingmarket for distributed generation technology.
EnergyUSA and Endesco formed a joint venture called MosaicEnergy LLC. Mosaic plans to install its first prototype fuel cellin a new home planned for construction this summer. The new venturealso said it has hired Roger F. Gyger as general manager to advancethe company’s fuel cell plans. Mosaic expects full scale productionby 2002.
“This in-home demonstration and the selection of a generalmanager are part of an aggressive development plan for distributedgeneration and combined heat and power — and fuel cells inparticular,” said Jim Abcouwer, EnergyUSA president. In addition tobeing an equity partner in Mosaic, EnergyUSA will participate inthe marketing and distribution of the fuel cell-based energypackage.
And according to Robert Winters, a Bear Stearns energy analyst,the time is right to enter the emerging energy technologies market.He expects several new public offerings from energy-relatedcompanies, and estimates that there could be as much as $200billion dollars in annual sales up for grabs when the industrybecomes more established.
“Investors, who have embraced new technologies, especially earlyon, have sometimes enjoyed extraordinary results,” said Winters.”What is interesting is the parallel between the marketopportunities that exist in the energy industry and those thatexisted in the telecommunications market over a decade ago.”
And fuel cells are just the beginning, Winters said.Technologies such as microturbines, flywheels, advanced batterytechnologies and next generation combined-cycle IGTs (industrialgas turbines) can be combined with sophisticated techniques tooperate, control and trade power. In addition, Winters speculatespower generation will move from a radial design centered on largepower generating facilities to a more decentralized setup wherepower-generating assets move closer to the point of consumption.
For more information on Winters’ report contact Roseanne Nizzariat (212) 272-4314 or Russell Sherman at (212) 272-5219.
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