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Byline: Bruce V. Bigelow
Oct. 28--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. …