Hydrogen Fuel Cell Initiative to Receive Massive Funding

http://www.h2daily.com/index.php/20080604624/Latest/Hydrogen-Fuel-Cell-Initiative-to-Receive-Massive-Funding.html

The U.S. Department of Energy (DOE) today issued a Funding Opportunity Announcement (FOA) for up to $130 million over three years, subject to Congressional appropriations, to advance the development and use of fuel cells for automotive, stationary, and portable power applications. DOE's announcement is part of the President's Hydrogen Fuel Initiative that accelerates the pace of research and development (R&D) for hydrogen-powered fuel cells. In addition to the FOA opportunity, today DOE expanded its own fleet of alternative fuel and advanced technology vehicles with the addition of a Chevrolet Equinox fuel cell electric vehicle.

In addition to seeking proposals for R&D projects in the areas of transportation, stationary, and portable power, DOE is also seeking proposals to demonstrate fuel cells in distributed energy systems and to support market transformation that provide real-world operation data. The Department anticipates making up to 50 awards through this competitive funding opportunity, which is open to industry, universities, and national laboratories. With a minimum 20 percent private sector cost share for the R&D projects and a minimum 50 percent applicant cost share for the demonstration projects, the total DOE and private sector investment in advanced hydrogen fuel cell technologies under this funding opportunity may exceed $170 million.

Applications for the fuel cell funding opportunity are due on or before August 27, 2008, with funding subject to appropriations from Congress. Additional information for industry, academia, and other interested parties is offered through grants.gov funding opportunity. Additional information for national laboratories is offered through IIPS funding opportunity.

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The long-term profit picture looks pretty bleak.

Wonder how fast a viable large-scale LiIon battery would come about with $130M funding?