Alternative Energy as a Business Model

Someday, it will make sense to invest in the development of alternative energy sources--from a business perspective--but that day may not yet be here:

Energy prices may be climbing, but the market for alternative sources of energy wasn't promising enough to keep the lights on at Carlsbad's Metallic Power.

The 9-year-old company shut down its operations last month after spending more than $40 million in venture capital to develop zinc fuel cell technology, two board members said yesterday. About 40 employees lost their jobs.

Despite the successful demonstration of a prototype, the company was unable to attract additional venture funding, said Thomas A. Page, a director who was the former chairman and chief executive of Enova Corp., the predecessor company to Sempra Energy.