FuelMaker, the Honda company that makes the Phill natural gas home refueling system, was forced into involuntary bankruptcy about a month ago. For a while, T. Boone Pickens' Clean Energy Fuels was maybe going to buy the company, but that didn't happen. Honda has found a buyer for FuelMaker, though, in Fuel Systems Solutions Inc. FSS announced yesterday that the $7 million transaction is expected to close in the second quarter of 2009.
Fuelmaker, the company that creates the PHILL compressed natural gas filling stations for residential and commercial use, has just been driven into involuntary bankruptcy. You may recall that Fuelmaker is owned by Honda, which had been in negotiations last year to sell the company to a number of different suitors, most notably to T. Boone Pickens' Clean Energy Fuels. None of those negotiations resulted in a sale.