Electric Fuel (EFCX) was up 16.6% in midafternoon on news that the company will open a dedicated company to make electric vehicles. The new unit, to be called Electric Fuel Transportation, will develop the company's zero-emission fuel-cell engine, recently shown in test drives of a specially built transit bus.
The company intends to further the demonstration by putting 15 to 20 such buses on the highway by 2003.
Other fuel-cell stocks reacted to the news --
was up 0.2%,
Ballard Power Systems
was up 1.6% and
was up 2.5%.