Mosaic Energy Announces New Fuel Cell Commercialization Partner, IHI

Apr 04, 2001, 01:00 ET from Gas Technology Institute

    DES PLAINES, Ill., April 4 /PRNewswire/ -- Mosaic Energy, LLC, announced
 today that Ishikawajima-Harima Heavy Industries (IHI), through its U.S. arm,
 IPA America, has acquired a 7 percent 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 IHI's 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 stations,
 convenience stores, supermarkets and apartment buildings.
     IHI will join the Gas Technology Institute (GTI) and NiSource Energy
 Technologies, a subsidiary of NiSource Inc., (NYSE:   NI) as owners of Mosaic.
    "We're excited about IHI joining the Mosaic team," said Gerry Runte,
 president of Mosaic.  "The IHI relationship gives us a major marketing channel
 to the Pacific Rim, consistent with our strategy of providing a standardized
 product platform of fuel cell stacks and fuel processors to key strategic
 partners with links to end-user markets."
     IHI (J.ISH: Tokyo) is a global, diversified corporation with business
 interests in the aerospace, ship building and energy generation equipment
 sectors.
     Mosaic Energy, LLC, was established in 1999 as a joint venture between GTI
 and NiSource, Inc. to develop and commercialize proton exchange membrane fuel
 cell systems.
     NiSource, Inc. is a holding company with headquarters in Merrillville,
 Ind., whose operating companies engage in virtually all phases of the natural
 gas business, from exploration and production to transmission, storage and
 distribution, as well as electric generation and distribution.  NiSource
 companies serve a high-growth energy corridor from the Gulf of Mexico to the
 Midwest to New England.
     GTI, based in the Chicago suburb of Des Plaines, offers research and
 technical services, R&D program management, technology commercialization, and
 education and training programs, with a focus on natural gas.
    More information about NiSource and GTI is available is available on the
 Internet at the companies' web sites:  http://www.nisource.com and
 http://www.gastechnology.org , respectively.
 
 

SOURCE Gas Technology Institute
    DES PLAINES, Ill., April 4 /PRNewswire/ -- Mosaic Energy, LLC, announced
 today that Ishikawajima-Harima Heavy Industries (IHI), through its U.S. arm,
 IPA America, has acquired a 7 percent 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 IHI's 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 stations,
 convenience stores, supermarkets and apartment buildings.
     IHI will join the Gas Technology Institute (GTI) and NiSource Energy
 Technologies, a subsidiary of NiSource Inc., (NYSE:   NI) as owners of Mosaic.
    "We're excited about IHI joining the Mosaic team," said Gerry Runte,
 president of Mosaic.  "The IHI relationship gives us a major marketing channel
 to the Pacific Rim, consistent with our strategy of providing a standardized
 product platform of fuel cell stacks and fuel processors to key strategic
 partners with links to end-user markets."
     IHI (J.ISH: Tokyo) is a global, diversified corporation with business
 interests in the aerospace, ship building and energy generation equipment
 sectors.
     Mosaic Energy, LLC, was established in 1999 as a joint venture between GTI
 and NiSource, Inc. to develop and commercialize proton exchange membrane fuel
 cell systems.
     NiSource, Inc. is a holding company with headquarters in Merrillville,
 Ind., whose operating companies engage in virtually all phases of the natural
 gas business, from exploration and production to transmission, storage and
 distribution, as well as electric generation and distribution.  NiSource
 companies serve a high-growth energy corridor from the Gulf of Mexico to the
 Midwest to New England.
     GTI, based in the Chicago suburb of Des Plaines, offers research and
 technical services, R&D program management, technology commercialization, and
 education and training programs, with a focus on natural gas.
    More information about NiSource and GTI is available is available on the
 Internet at the companies' web sites:  http://www.nisource.com and
 http://www.gastechnology.org , respectively.
 
 SOURCE  Gas Technology Institute