Wednesday, May 16, 2007

It's Not Easy Being Green

These days, Wall Street recoils from pure-play fuel cell companies. Several in the table below have seen their share price cut in half over the past year. Two trade below a buck.

But Washington remains bullish on fuel cells.

"We've seen an uptick in the interest level," says William Mitchell, vice president of marketing at Nuvera Fuel Cells of Cambridge, Mass.

Mitchell and other fuel cell industry reps recently hosted a meeting to pitch their wares to federal government purchasing managers. More than 80 showed up. "That was sort of groundbreaking," he says. "It shows they really think there's some valuable products coming out."

Tuesday, Nuvera was up on Capitol Hill to show off its products to Congress at an event sponsored by the U.S. Fuel Cell Council, a trade group. Presenting companies, among them giants like United Technologies and Chevron, had sales booths set up in a congressional caucus room, while rides in fuel-cell powered cars were ongoing down the street.

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