Unocal Corp. 's John Donohue sees a future in fuel cells. The president of Unocal's dismantled Spirit Energy 76 business unit has signed with Valencia, California-based DCH Technology Inc. as president and chief executive officer. Sugar Land, Texas-based Spirit Energy was Unocal's Lower 48 operational unit, but the transfer of a great deal of assets in joint ventures recently has left less for the unit to oversee. The Lafayette, Louisiana-based Unocal Gulf Region USA division is moving to Sugar Land headquarters for Lower 48 operations, joining the Unocal Deepwater USA group, which is already based there. Publicly traded DCH is a developer of hydrogen fuel cells and hydrogen-specific safety and measurement equipment. The use of fuel-cell technology is expected to become widespread after 2010, when economics become generally competitive with existing energy technology, and have a positive effect on natural-gas (predominantly hydrogen) demand and a negative effect on crude-oil (predominantly carbon) demand. (For more on this, see "Meet the Fuel Cell," Oil and Gas Investor, January 2001.) Donohue took the helm of Spirit Energy in early 1999. A longtime Unocal executive, he previously was vice president of Unocal's fertilizer and chemicals division, general manager of Unocal's Alaska E&P division, and general manager of the company's onshore business unit. DCH has been trading publicly since late 1998. The stock price has varied from a $1.19 opening-day close to $13.81 in March 2000, and $1.94 recently. Donohue says, "The age of hydrogen is dawning and DCH has the resources to become a major part of this new age...I'll use my skills and relationships cultivated over the years to open doors in the energy community and commercial markets with partnerships and products that turn DCH's potential into near-term results and long-term growth.''
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