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  • WAY OT: CIRCULAR “LOGIC”

    Filed at 3:52 pm under by dcobranchi

    My Dad owns a few shares of Proton Energy Systems, whose hydrogen generator was touted by CA Governor-wannabe Arnold Schwarzenegger. The quote from the CEO is a gem:

    Our core technology transforms electricity into fuel,” said Walter W. “Chip” Schroeder, Proton’s CEO. He added, “What the Schwarzenegger team recognizes is that Proton’s products enable the use of hydrogen as a non- depleting and non-polluting fuel for cars and in distributed energy applications to supplement our over-stressed electric power systems.”

    So, their technology takes electricity, uses the electricity to split water and generate hydrogen, and uses the hydrogen to generate electricity (via a fuel cell). That is definitely a losing game (since you can’t achieve 100% efficiency) and will do absolutely nothing to “supplement our over-stressed electric power systems.” To be fair, the CEO did mention wind and solar power, but they don’t make those.

    The stock is up 30% today.

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