GM, ChevronTexaco to jointly develop fuel cell petrol processing technology

General Motors Corp and ChevronTexaco Corp said they have reached a multi-year research collaboration agreement to develop commercially viable petrol processing technologies for fuel cells.

Financial terms of the deal were not disclosed.

ChevronTexaco brings technologies developed for refinery and chemical processes that selectively complement GM's fuel processing research capabilities and development programs, according to a joint statement.

Gasoline-fed fuel cells would substantially reduce emission levels and improve fuel-economy levels.