Catamount buys fuel cell stake
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Staff Report - Published: March 10, 2007
Catamount Energy Corp., a Rutland-based wind energy company, announced Friday the acquisition of a 50 percent stake in EPG Fuel Cell LLC, a developer of power projects based on fuel cell technologies.
Expanding its activities in developing renewable energy projects, Catamount has teamed with Elemental Power Group LLC of New York, to bring utility-scale, clean power solutions to urban environments.
"Diamond Castle is using Catamount Energy as its alternative energy platform, and the fuel cell technology provides a complementary addition to our existing wind energy business," said James Moore, CEO of Catamount.
Catamount Energy will own a 50 percent share of EPG Fuel Cell, a subsidiary of Elemental Power Group.
EPG Fuel Cell will be run as a joint venture and will seek to expand its development efforts in states that have electricity constrained grids in urban environments that can particularly benefit from the ultra-clean generation that fuel cell projects enable.
Fuel cells are battery-like devices that convert hydrogen and oxygen to electricity electrochemically, without combustion.
Power generated by fuel cells is considered highly reliable, ultra-clean, and renewable in many states.
Because the facilities are modular in design, they can be engineered into many locations in urban areas.
Catamount is a developer, owner, and operator of wind energy projects and has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for 19 years.
Diamond Castle, a New York private equity firm, purchased Catamount in 2005 from Central Vermont Public Service Corp.
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