IdaTech Signs Italian Agent for Fuel Cell Systems

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idacorp_logo.gifIDACORP (IDA) is a holding company that has businesses in electrical generation, financial services, and telecommunications services. The IdaTech division that focuses on production of fuel cell systems has recently signed an Italian firm to represent them in the Italian market. Press Release Monday June 28, 8:00 am ET IdaTech has entered into an agency agreement with Italian energy engineering firm, RENCO S.p.A (RENCO) for the market development and distribution of IdaTech’s fuel cell systems and hydrogen generation products. [ more ] IDA is a well run utility paying a 4% dividend. They have recently crossed back over their 50 day moving average and they are currently trading at book value. Even though this company is not 100% in the Alternative Energy space, they have a firm footing for future growth and the backend holdings help to keep the stock’s value as you wait. The dividend doesn’t hurt either. This company is currently on my watch list for purchase in the near future.