March 16, 2007

A busy week for Canadian cleantech firms
* CO2 Solutions announced that partner Babcock & Wilcox has acquired an exclusive North American option to license the Quebec City-based company's CO2-capture technology, which is based on a novel enzyme process.
* Fuel-cell developer Plug Power Inc. has agreed to acquire Richmond, B.C.-based Cellex Power Products Inc. for $45 million (U.S.), part of an effort by Plug Power to round out its product offerings.
* Xantrex Technology Inc. has formed a joint venture with Shanghai Power Transmission & Distribution Co. Ltd., a member of the massive Shanghai Electric Group. The venture, 49 per cent owned by Xantrex, will "design, manufacture and sell solar and wind power electronics products exclusively for the renewable energy market in China from a facility to be built in Shanghai, China."
* Vancouver-based Finavera Renewables Inc. announced that SAIC will be its systems integration partner for future "ocean energy conversion programs." According to a statement, "SAIC will work with Finavera to develop, integrate, procure, install and test ocean energy conversion devices, including the patented 'AquaBuOY' in marine renewable energy parks."