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The Fuel Cell OpportunityPurePower was created out of the enormous opportunity offered by the potential that fuel cells hold. In addition to State and Federal subsidies, deregulation of energy markets creates the engine that will moe fuel cell manufacturers to find their niche. Specifically:
PurePower identifies federal, state, and private fuel cell commercialization programs for its clients and secures equity, debt and grant financing. Further, PurePower has relationships with all commercial fuel cell manufacturers, and certifies capabilities, keeping customers apprised of current breakthroughs in technology. Although there are a variety of fuel cell manufacturers, end users (PurePower’s customers) require the experience, industry knowledge, and technical skills to determine the appropriateness of fuel cell application and implementation. Further, PurePower offers its customers the ability to finance and implement cost-effective solutions by representing their interests in the development process. Fuel cells are an important technology to develop because they are currently almost twice as efficient as coal or gas-fired generation, reducing pollution and conserving the natural gas supply. Smaller fuel cell plants can protect national security interests, and reinforce existing power delivery infrastructure without costly and intrusive upgrades. Beyond these advantages, fuel cells offer:
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The
Federal Government funds fuel cell research in the amount of several
million dollars per year, with ancillary funding in the amount of
$100 million for demonstration and promotion nationwide. Congressional
initiatives for $500 million over five years is proposed, with $140
million for projects, and $28 million for education and promotion.
There are programs in place and proposed that offer tax credits
to assist with purchase and installation. Federal interests lie
in the areas of economics, national defense and environment. A domestic
fuel cell industry has global ramifications in regions where a utility
infrastructure is the primary barrier to business opportunity.
The
State of Connecticut, home of the two most advanced fuel cell manufacturers,
has the potential of $750MM to $1 billion in new revenues from the
growing industry. With tax incentives, loan guarantees, and grant
initiatives, the State has made opportunities available for early
movers in this industry.