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Technology Stocks : Energy Conversion Devices

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To: WALT REISCH who wrote (6875)9/2/2002 5:28:38 PM
From: WALT REISCH   of 8393
 
Michigan To Break Ground on Fuel Cell Center
(9/2/2002)

September 2, 2002–- In order to help the state transition from a fossil fuel vehicle center to a hydrogen economy Michigan will break ground on a fuel cell research center this October according to Doug Rothwell, president of Michigan Economic Development Corp.

"We want to make sure the transformation to hydrogen energy happens with us, not to us," Rothwell said

Based on hydrogen, the world's most abundant element, fuel cells emit only water as a byproduct. But it takes large amounts of energy to separate hydrogen from water, which is one the industry's tallest hurdles.

Michigan's Governor John Engler has said hydrogen industry could reach $95 billion by the end of decade, and Michigan recently became the first tax-free state for alternative energy.

Michigan allocated $50 million for the center to be called NextEnergy and which will be built in Ann Arbor from October. It will serve as a research lab bringing leading fuel cell and other alternative energy industries under the same roof, and as a center where the public can learn about fuel cells.

NextEnergy will bring together leaders in the fuel cell industry such as auto companies like DaimlerChrysler Corp. DCX.N energy companies, and smaller companies such as Energy Conversion Devices, which makes fuel cell batteries.

But one of NextEnergy's focuses will also be on compliance and standards, something that federal and international fuel cell programs do not address well, Rothwell said.

Reginald Modlin, Daimler Chrysler's environmental director said he hoped NextEnergy would be able alleviate standards issues that have hobbled otherwise successful fuel cell programs in the past.

Hydrogen fueling stations had already been built in California for experimental hydrogen fueled autos.

But when Daimler supported building another station near San Francisco, county laws against compressed gases delayed the process. "We think the coordination of information is key, that's why we see NextEnergy as a factor," said Modlin.

eyeforfuelcells.com
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