| UTC Power Lauds U.S. House Support of Hydrogen Fuel Cell Technology in New Energy Bill
-- House approves $4 billion in DOE funding for hydrogen fuel cell technology, 15 percent fuel cell investment tax credit, $50 million fuel cell bus demo program --
SOUTH WINDSOR, Conn. (April 22, 2005) – UTC Power, a division of United Technologies Corporation (NYSE: UTX), praised the U.S. House of Representative's approval of a comprehensive energy bill that will advance the commercialization of hydrogen fuel cell technology. Lawmakers passed the measure in a 249-to-183 vote.
The Energy Policy Act of 2005 (HR-6) is the framework for a comprehensive hydrogen fuel cell strategy that includes research, development, and demonstration initiatives (RD&D); financial incentives; federal agency planning and coordination; education programs; and the development of unified codes and standards.
"Members of the House recognize the development of fuel cells as a viable solution to air pollution and energy shortfalls," said UTC Power President Jan van Dokkum. "The House vote represents a strengthened national commitment to the commercialization of fuel cells as a clean, reliable, alternative energy source." Van Dokkum added that the legislation's RD&D funding would enhance public-private partnerships between business and government, which is viewed as essential to the technology's continued progress.
Van Dokkum highlighted three key hydrogen fuel cell provisions included in HR-6: a $1,000 per kW or 15 percent fuel cell investment tax credit championed by Rep. Nancy Johnson (R-CT); a $50 million five-year national fuel cell transit bus demonstration advocated by Rep. John Larson (D-CT); and increased RD&D spending, the result of an amendment by Reps. Lee Terry (R-NE) and Michael Doyle (D-PA) that nearly doubled the five-year Department of Energy allocation from $2.15 billion to $4 billion.
United Technologies, based in Hartford, Conn., is a diversified company that provides high technology products and services to the commercial building industry and the military and commercial aerospace industry. Its UTC Power division, based in South Windsor, Conn., is a full-service provider of clean power solutions. With more than 40 years of experience, UTC Power is the leading developer and producer of fuel cells for on-site power, transportation and space applications. |
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