ThermicEdge Acquires Outstanding Securities of Fuel Cell Technologies
Shareholders of ThermicEdge Corp. (Calgary, Alberta) approved the acquisition of all of the outstanding securities of Fuel Cell Technologies Ltd. (Kingston, Ontario) on May 5, 2000. The new company will go by the name Fuel Cell Technologies Corp. (FCTC).
FCTC will continue to develop and market its existing line of aluminum-oxygen fuel cells for underwater use, and use its experience and expertise to develop a reliable, rugged, high-efficiency, low-cost SOFC for the residential and off-grid remote-area power markets. FCTC's main objective is to complete a successful demonstration of a 5kW SOFC in several applications within three years or less.
FCTC will be working closely with Ontario Power Technologies on SOFC off-grid electric power.