Ecotality
seems to have a finger in every pie.
In June,
the Scottsdale, Arizona-based company bought FuelCellStore.com, a small online
retailer of fuel cell kits and components. On Thursday, Ecotality said it would acquire Innergy Power Corporation, a solar panel and rechargeable
lead-battery maker, for $3 million cash and stock.
San
Diego, California-based Innergy, founded in 1989, makes thin, lightweight
rechargeable batteries and solar modules for use in emergencies or outdoor
recreation. The company is profitable and has a factory in Tijuana, Mexico,
according to Ecotality.
The
acquisition was expected to close in October, a spokesperson for Ecotality said.
For
Ecotality, a public company that trades over-the-counter and aims to
commercialize early-to-mid-stage renewable energy technologies, the buyout
signals a move into the energy storage and solar markets.
Founded
in 1999 as Alchemy Enterprises, a marketer of cleaning chemicals,
Ecotality changed its name and focus last year. The company is developing a
machine that makes hydrogen from magnesium and water for use in fuel cells, in
conjunction with NASA’s Jet Propulsion Lab, according to a company
spokesperson.
Ecotality
said it hopes to make use of Innergy’s Tijuana
factory for its fuel cell product business. It paid nearly $540,000 for
FuelCellStore.com, according to Securities and Exchange Commission filings.