Government promotes fuel cell investment -

Government promotes fuel cell investment


LONDON — Energy Minister Malcolm Wicks is confident that cars, homes, laptops and mobile phones, could all in future be powered by revolutionary fuel cells, and says “investors in this sector today are getting ahead of tomorrow's game,”

His comments were targeted at the financial community at a specially convened DTI conference in London which was organized with Fuel Cells U.K., to raise awareness of the technology and further increase its development and deployment.

Wicks says, “The Government wants a 60% reduction in carbon emissions by 2050 and new sustainable energy technologies such as fuel cells can help us move towards that target. The versatility of fuel cells means that they can also contribute to the diversity of supply, as the electricity they generate can be produced using a variety of sources such as natural gas and waste.

The DTI is supporting developments through its Technology Programme and a £15 million demonstration programme.

Peter Bance, Fuel Cells U.K. Chairman added, “In the UK, against a backdrop of established players and research activities, we have recently seen the emergence of small entrepreneurial companies and potential suppliers to the industry, all keen to establish a presence in the international market place. This maturing of the industry has been reflected in the growing number of IPOs in the sector with investors keen to back future winners which will deliver attractive returns.”

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