July 22 th 2002
PLUG LIKELY TO BENEFIT FROM FEDERAL INITIATIVE
Source: The Times Union
COLONIE -- Plug Power Inc., the Latham fuel-cell maker, could be in line for the bulk of a $ 10
million program making its way through Congress.
New York Democratic Sens. Charles Schumer and Hillary Rodham Clinton announced
Friday
that the Senate Appropriations Committee approved an initiative seeking
new, cost-effective
ways to increase the use of natural gas and other hydrogen-based fuels.
"We need to stay
ahead of the curve on energy production by developing new ways to rein
in rising electricity
costs," Schumer said. Plug's fuel cells convert hydrogen to electricity
via a chemical process
that is more efficient and much cleaner than more conventional generation
techniques. Plug
would have to apply to get the money, but a Schumer spokesman said Plug's
stature in the
fuel-cell industry likely would put it in line to get much of the pot.
The $ 10 million is to be
included in the 2003 defense appropriations bill, which still requires
approval by the full
Senate and House of Representatives.
