The Sacramento Business Journal reports that PEM fuel-cell maker Anuvu has hit the skids. The company has cut its staff to three, stopped product development and is negotiating for debt relief with its major creditor.
Anuvu, founded in 1994, was the developer of the Power-X fuel cell, and in 2004 had entered into a relationship with ZAP to create fuel cell-powered vehicles with an expected introduction date of 2005. (Earlier post.)
Anuvu expected to receive $11 million for orders of 100 fuel cells in 2005 and 1,000 in 2006, but so far Zap has only ordered one prototype system, [co-founder Lyn] Cowgill said.
Zap planned to incorporate the fuel cells into DaimlerChrysler AG’s fuel-efficient Smart Cars, but the German automaker has not started selling Smart Cars in the United States.
Anuvu is repositioning itself to sell engineering services to other companies.