Department of Energy to Announce Over $77 Million for Hydrogen Research Projects

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Acting Undersecretary of Energy David K. Garman will speak at the World Renewable Energy Congress and Expo in Denver, CO on Monday, August 30, 2004to outline a program that will invest over $77 million in Hydrogen research projects around the country. These projects support President Bush’s Hydrogen Fuel Initiative, as outlined in the National Energy Policy. President Bush has called on DOE to pursue the promise of hydrogen fuel cell vehicles to decrease America’s dependence on foreign oil. These hydrogen research projects willrepresent another part of the President’s Hydrogen Fuel Initiative that adds to the recent competitive proposals announced in fuel cells, hydrogen storage, hydrogen education, and in the national vehicle/infrastructure “learning demonstration”. [ more ] Today shares of many Fuel Cell companies were up big in anticipation of this announcment. Ballard Power (BLDP) was up over 11% today.