EU Backs US$1.5 Billion Research Program to Develop Hydrogen Cars
Tuesday, June 03, 2008
"The European Union approved a 940 million-euro ($1.5 billion) research initiative to spur the development of hydrogen-powered cars, seeking to reduce air pollution and reliance on imported oil. The program is due to be 50 percent financed by companies including Royal Dutch Shell Plc and Bayerische Motoren Werke AG and 50 percent funded by the EU over six years. Hydrogen produces no pollutants such as carbon dioxide when used as fuel in combustion engines or fuel-cell systems, helping Europe cut emissions and diversify energy supplies. The program, endorsed by EU research ministers today in Brussels, aims to accelerate the commercialization of hydrogen and fuel-cell technologies, allowing "commercial takeoff" between 2010 and 2020. Existing market barriers include the cost and durability of fuel cells, the sustainable production of hydrogen and the safe distribution and storage of hydrogen." More
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