Avista Laboratories of Spokane is at a crossroads.
The company is taking high-profile advantage of the national momentum surrounding fuel cells with its own patented technology. But it also is facing an urgent need to become profitable.
The company's parent, Avista Corp., can't afford to continue putting money into the fuel cell venture, and wants to sell 80 percent of the subsidiary by spring.
Although the fuel cell company's sales are picking up steam -- on track to hit $1.6 million this year -- it doesn't expect to be profitable until 2005.
In Sunday's Business section, reporter Alison Boggs visits with Avista Labs CEO Mike Davis and learns about the technology that has captured the attention of President Bush and Congress.
Davis, who is hard at work courting venture capitalists who could take over as majority partners of Avista Labs, is realistic: "Candidly, we're at a point where we'll either exist or not exist in a few months time."
