SARASOTA, Fla., Dec. 2, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Dragon Environmental Corp. (Pink Sheets:DRVC), FuelCell Energy, Inc. (Nasdaq:FCEL) and Chevron Texaco Corp. (NYSE:CVX).
Dragon Environmental Corp. (Pink Sheets:DRVC) announced today that it has entered into a definitive agreement to acquire Refined Resources Inc. (hereafter referred to as "Refined") for 30 million shares of common stock of Dragon. Refined Resources Inc. is a private junior resources company formed to pursue opportunities in the mineral resources. Refined Resources' specific view is to exploit and develop promising base metal exploration and development projects in the People's Republic of China.
Impending closing of its acquisition of Refined, Dragon Environmental Corp. is in the process of changing its name to Dragon Mineral Resources Inc.
DRVC is trading at around .75 cents a share.
FuelCell Energy, Inc. (Nasdaq:FCEL), Chevron Texaco Corp. (NYSE:CVX)
Manufacturer of fuel cell power plants, FuelCell Energy, Inc., announced Wednesday that Chevron Energy Solutions, a subsidiary of ChevronTexaco Corp. (NYSE:CVX) and FuelCell Energy distribution partner, has sold a 250-kilowatt Direct FuelCell power plant to the U.S. Postal Service's San Francisco Processing and Distribution Center. Chevron Energy Solutions would complete the project over the next year and provide a turn-key on-site generation solution to the facility. FuelCell Energy would provide the DFC300A power plant, technical support and system commissioning services.
FCEL closed Wednesday's regular trading session at $10.02 on volume of 1.4 million shares. CVX finished the session at $53.48 on volume of 8.2 million shares.
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