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In today's Wall Street
Journal, writer Karen Richardson states, "For
decades, Standford Orshinky's alternative energy
inventions and their prospects for profitability seemed
like science fiction. Not Anymore."
While the Journal
points out that today the company is still unprofitable,
the company is now receiving the attention of serious
investors expecting the hybrid car craze to turn into a
hot market.
"The Prius is an
incredible success, and all North American auto makers
are jumping on board," Brion Tanuous, an analyst at
brokerage firm Merriman Curham Ford & Co. told the
Journal.
Back in the 80's,
Ovshinsky's Energy Conversion Devices invented the
nickel-metal hydride (NiMH) battery. The battery lasts
twice as long as lead-acid batteries.
While the battery
wasn't created for the hybrid car market, it was created
for possible automotive uses. Essentially, the battery
was built to work with fuel cells.
Fuel cells, of course,
are considered the future of the automobile and a
leading power source of the 'hydrogen economy'. Many
times this site has advocated hybrids because of the
spin-off technological breakthroughs it can advance,
such as fuel cells, i.e. the future - all while reducing
SMOG, global warming, and reducing dependency on foreign
oil.
Even though the Prius
was not its intended market, ECD is quite happy with its
role with the popular hybrid and the fastest selling car
in America from September 2003 to July of last year. Now
the company is also in talks with the American Big 3,
followers in the hybrid car revolution, and others.
"When you think
about what's going on in terms of societal needs - clean
air and the oil question - our strengths are playing
right into that," says ECD head Robert Stempel.
We couldn't agree more.
>>
Blog on this subject.
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