1. Home
  2. Articles posted by: Rona Fried (Page 2336)

Climate Change Bill Re-Introduced in US Congress

On March 30, the Climate Stewardship Act was re-introduced in the House by a bi-partisan group of 19 Congressmen. The bill would cap emissions by creating an emissions trading system. Lead sponsor Wayne Gilchrist's bill shadows last year's McCain-Lieberman bill, which lost 43-55 in the Senate last year. "We have come close to success in the past with our bill, and Senator Lieberman and I hope to carry that momentum into the spring and pass our bill through the Senate," McCain said. The McCain-Lieberman legislation is modeled after the successful acid rain trading program of the 1990 Clean Air Act. It would require a reduction in carbon dioxide emission levels to 2000 levels by the year 2010 by capping the overall greenhouse gas emissions from the electricity generation, transportation, industrial, and commercial economic sectors, and creating a market for individual companies to trade pollution credits.

Read More

German P21 Receives 6 Million Euros Investment

Fuel cell company P21 GmbH concluded its first round of institutional financing today in the amount of 6 million euros. The investment comes from an international consortium of venture capital investors. The lead investor is the British firm Conduit Ventures Ltd. Based in London, it specializes in investments in the sector of fuel cells and hydrogen technology. Other investment partners include Target Partners (Munich) and TechFund Capital Europe and its associated funds CDC Ixis Innovation (Paris). In 2002, P21 secured seed financing of 1.3 million euros from a private investor (Eberhard Frber, founder of PCS and IXOS Software AG) and tbg of Bonn. P21 plans to use the capital to launch its fuel cell system for emergency power supply in the growing market of uninterruptible power supply (UPS), especially for mobile communication base stations, which used to get emergency power exclusively from battery and generator solutions. John Butt, Managing Partner at Conduit Ventures, adds, "Conduit Ventures has gone to great lengths to find the best investments in emergency power supply systems based on fuel cells, and we were impressed by the unique technology, top-class technical expertise, and qualified management team at P21. Its UPS fuel cell system has the potential […]

Read More

Hydrogenics Receives Funding for Fuel Cell Forklift Truck

Hydrogenics Corporation (Nasdaq: HYGS; TSX: HYG), a designer and manufacturer of hydrogen and fuel cell systems, is receiving C$1.56-million contribution from Sustainable Development Technology Canada (SDTC) for a development and demonstration project of fuel cell-powered forklifts. The project will include Class I sit-rider electric forklifts incorporating hydrogen storage, and a refueling station. The potential customer base for Class I forklifts are companies running multi-shift fleet operations, such as many in the automotive and transportation sectors. Forklift fleets are an important market for hydrogen power. Off-road vehicles, including forklifts and other industrial vehicles, contribute nearly 13 per cent of the global total of transportation-related greenhouse gases. Hydrogen fuel cell-powered forklifts are ideal for indoor facilities because they produce no exhaust emissions, and they have significant advantages over traditional battery-powered forklifts. SDTC's contribution has been leveraged by a $1.98 million funding commitment from a consortium that is led by Hydrogenics. The consortium members include Deere & Company, FedEx Canada, General Motors of Canada, NACCO Materials Handling Group and the Canadian Transportation Fuel Cell Alliance. The total project is estimated to cost approximately $3.54 million. The project involves outfitting two Class I sit-rider electric forklifts manufactured by NACCO Materials Handling Group with fuel […]

Read More

Cellex Receives Cnd$2 Million to Develop Fuel Cell Fork-Lift

Sustainable Development Technology Canada (SDTC)is contributing C$2 million for a Cellex Power's development and demonstration project. Hydrogen fuel cells will power Class 3 fork-lift trucks, used in warehouses for food distribution, and retail. Off-road vehicles, including fork-lifts, generate almost 13% of transportation-related green house gases. "Investment in companies such as Cellex is an important part of helping accelerate the reduction of the greenhouse gas emissions that contribute to climate change, as well as the reduction of criteria air contaminants," said the Honourable David Anderson, Minister of the Environment. Said Vicky J. Sharpe, SDTC's President and CEO, "Our strategic support is enabling technology entrepreneurs to accelerate development of their groundbreaking clean technologies, connect with partners at all points of the supply chain, validate their business plans and get to market faster." SDTC's contribution has been leveraged by $7 M (CDN) from a consortium that is lead by Cellex. Project consortia members include fork-lift dealer, Arpac Storage Systems Corporation and Fuel Cells Canada. In the consortium, Arpac will provide expertise in distribution, data collection and field demonstrations. Fuel Cells Canada will liaise with government and regulatory agencies on codes and standards to govern product quality and safety. The project will run until […]

Read More