Plug Power Inc. (Nasdaq: PLUG) and Vaillant Group of Germany have been selected by the European Commission to receive a grant for the international development and demonstration of three high temperature combined heat and power proton exchange membrane (HT-PEM) fuel cell system prototypes. “This grant helps Plug Power and its partners accelerate the application of fuel cell systems as heat and power sources for commercial and residential structures,” said Dr. Roger Saillant, Plug Power’s CEO.
The European Commission will provide euro 2.5 million in funding for the project, which is estimated to have a total value of more than euro 11 million over a two-year period. In October, the U.S. Department of Energy awarded $3.6 million to support the international collaboration. This is the first cooperative program in fuel cell technology between the two government entities.
“Vaillant Group and Plug Power have successfully developed and tested three generations of micro combined heat and power fuel cells for more than six years. The project is a consequent further step in our partnership and offers a great potential to improve technology based on HT-PEM,” said Dr. Michel Brosset, Vaillant Group’s Managing Director.
Plug Power’s operations in the Netherlands will be instrumental in coordinating the transatlantic collaboration. In addition to Plug Power and Vaillant Group, other companies and organizations participating in the development project are PEMEAS, Domel Elektromotorji, the Bulgarian Academy of Sciences, Gaia Group and the Imperial College of London.
About Plug Power
Plug Power integrates fuel cell technology into backup power products for telecommunications, utility and uninterruptible power supply applications. The Company is actively engaged with private and public customers in targeted markets, including the United States, Europe, Middle East, Russia, South Africa and South America. www.plugpower.com.
About Vaillant Group
Headquartered in Remscheid, Germany, Vaillant Group focuses on heating and air-conditioning technology. The company develops and produces tailor-made products, systems and services. In 2005, Vaillant Group, which has been family-owned since its founding in 1874, achieved sales totaling euro 1.8 billion with about 8,600 employees.
Loading...