in september 2000, texaco ovonic fuel cell company, llc was formed as a 50/50 joint venture between ecd ovonics and texaco energy systems, inc. to develop and market ovonic regenerative fuel cell technology. it was later renamed chevrontexaco ovonic fuel cell company. in june 2003, ecd acquired texaco energy systems' share for $1.00, effective december 31, 2002, and 100% ownership was assumed by ecd. the name was changed to ovonic fuel cell company llc.