Fuel Cell industry news provided by Financial News USA (OTC: FNWU) Power Air Corporation (OTCBB: PWAC) recently announced the establishment of Power Air (Canada) Corporation at the National Research Council of Canada Institute for Fuel Cell Innovation (NRC-IFCI) facilities. Mr. Steve Williams, President and CEO of Power Air says "Our presence here allows us to interact with other leading companies and leverage both NRC resources and the vast pool of local talent to reduce our cost and time to market." Honeywell (NYSE: HON) recently declared its Offer to acquire the entire issued share capital of First Technology plc wholly unconditional and assumed control of First Technology. First Technology operates globally in three main businesses: Gas Sensing (sensors and instrumentation), Automotive & Special Products, and Safety & Analysis. Honeywell will begin to integrate the Gas Sensing business into Honeywell's Automation and Control Solutions (ACS) business immediately.
Shares of Energy Conversion Devices Inc. (Nasdaq:ENER), a maker of rechargeable batteries and solar panels, climbed on Monday after several analysts initiated coverage of the firm with "Buy" ratings. Sanjay Shrestha, an analyst at First Albany Capital, initiated the "Buy" rating with a 12 month to 18 month target price of $60. He said the company has "an impeccable track record of 50-plus years of innovation, coupled with a strong focus on execution and profitability." FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of ultra-clean and efficient electric power generation plants for commercial and industrial customers, recently reported results and accomplishments for its first fiscal quarter, ended January 31, 2006. FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution.
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