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GM to Produce First Fuel Cell Product for Nextel (Update1)
By Jeff Green
Las Vegas, Oct. 29 (Bloomberg) -- General Motors Corp., the largest automaker, said it will offer fuel cell generators to Nextel Communications Inc. as backup power sources for cellular phone towers.
General Motors is refining fuel-cell technology in the hope that it can power cars someday. The Nextel project is the Detroit- based company's first application of the technology.
General Motors, and Toronto, Canada-based Hydrogenics Corp., in which General Motors owns a 24 percent stake, will join with Irvine, California-based Quantum Technologies Inc., to test prototype units to power Nextel cellular towers in the first quarter of 2002. Quantum is a subsidiary of Imco Technologies Inc., which is 20 percent-owned by General Motors.
The system will provide as much as two hours of backup power.
Fuel cells use hydrogen in a chemical reaction to create electricity. Using pure hydrogen, a fuel cell emits only heat and water vapor. Automakers are spending billions of dollars to develop fuel cells as a cleaner alternative to internal-combustion engines to meet tougher government pollution rules.
General Motors said in August it would likely produce fuel cells as stationary power sources for buildings and other structures before it would use it in automobiles. The automaker has said it hopes to have commercially available fuel cell cars on the road by 2010.
General Motors shares fell $2.64 to $42.76 in Monday trading. Imco shares fell 64 cents to $16.58. The announcement came after the market was closed.
Kurs IMCO z.Zt. 18,50 €
GM to Produce First Fuel Cell Product for Nextel (Update1)
By Jeff Green
Las Vegas, Oct. 29 (Bloomberg) -- General Motors Corp., the largest automaker, said it will offer fuel cell generators to Nextel Communications Inc. as backup power sources for cellular phone towers.
General Motors is refining fuel-cell technology in the hope that it can power cars someday. The Nextel project is the Detroit- based company's first application of the technology.
General Motors, and Toronto, Canada-based Hydrogenics Corp., in which General Motors owns a 24 percent stake, will join with Irvine, California-based Quantum Technologies Inc., to test prototype units to power Nextel cellular towers in the first quarter of 2002. Quantum is a subsidiary of Imco Technologies Inc., which is 20 percent-owned by General Motors.
The system will provide as much as two hours of backup power.
Fuel cells use hydrogen in a chemical reaction to create electricity. Using pure hydrogen, a fuel cell emits only heat and water vapor. Automakers are spending billions of dollars to develop fuel cells as a cleaner alternative to internal-combustion engines to meet tougher government pollution rules.
General Motors said in August it would likely produce fuel cells as stationary power sources for buildings and other structures before it would use it in automobiles. The automaker has said it hopes to have commercially available fuel cell cars on the road by 2010.
General Motors shares fell $2.64 to $42.76 in Monday trading. Imco shares fell 64 cents to $16.58. The announcement came after the market was closed.
