Texaco Forms Texaco Energy Systems
In conjunction with the recent announcement of the California Fuel Cell Partnership, Texaco Inc. (Houston, TX) announced the formation of Texaco Energy Systems Inc., a venture that will explore opportunities in the fuel cell energy business. The formation of the business is intended to allow Texaco to apply its expertise in fuel conversion technologies to advance the development of commercially viable fuel cell systems. Texaco Energy Systems was also established to investigate and identify the potential range of available fuel cell market segments, from transportation, marine and stationary power, to low and portable power systems."We are engaged in an ongoing effort to broaden Texaco's portfolio of energy opportunities," stated Texaco Senior Vice President William M. Wicker. "We plan to apply our expertise in fuels and processing to develop fuel cell technology solutions that advance the commercial viability of this new source of energy and build Texaco's technology-based businesses. The California Fuel Cell Partnership will afford practical experience in understanding infrastructure needs and motivate collaborative research on fuel conversion technology."Wicker added, "Texaco is the recognized world leader in gasification technology, a process that converts solid, liquid or gaseous hydrocarbon feedstocks into hydrogen or synthesis gas. Gasification is among the most promising conversion technologies for fuel cell systems.