Texaco Energy Systems Inc. and Energy Conversion Devices Inc. will form a joint venture to commercialize Ovonic's regenerative fuel cell technology. Texaco Inc. reportedly is investing $40 million in the deal. Coincidentally — or perhaps not — former Chrysler Corp. Chairman Robert J. Eaton, who once worked under ECD Chairman Robert C. Stempel when Mr. Stempel was chairman of General Motors Corp., is elected to Texaco's board of directors. • Ford Motor Co. is set to invest $226.9 million ...
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