Mosaic Energy, LLC
May 8, 2001
Mosaic Energy, LLC, Des Plaines, IL, recently announced that Ishikawajima-Harima Heavy Industries (IHI), through its U.S. arm, IPA America, has acquired a 7% equity stake in the company. IHI provided a package of cash, technology and strategic development and marketing services in exchange for the share of Mosaic Energy¿s ownership and Pacific Rim distribution rights. IHI is combining proton exchange membrane fuel cell stacks manufactured by Mosaic with its fuel processing and balance-of-plant technology, resulting in fuel cell system products targeted for the Japanese distributed generation market. Potential applications for these products include gas station, convenience stores, supermarkets and apartment buildings.