Conntact.com - CT Business News Journal

With two major fuel cell companies in his home state, FuelCell Energy of Danbury and United Technologies Corp., outgoing U.S. Sen. Christopher A. Dodd is calling for the federal government to increase government purchasing and to create incentives for the private use of more fuel cells for energy production. Dodd's proposal would call on the federal government to increase the number of fuel cells in use at government facilities. He is also calling for an increase in the investment tax credit from $3,000 per kilowatt to $3,500 when a company uses both heat and electricity from a fuel cell.

R. Daniel Brdar, CEO of FuelCell Energy has said of Dodd's proposal that the federal government is the world's largest single user of electricity - "no one else even comes close."

The company also said that South Korea has designated fuel cells powered by natural gas as eligible to be included as part of its "renewable energy" portfolio, which is to add 350 megawatts of renewable energy each year.

In early December FuelCell Energy closed on a deal with POSCO Power, a South Korean industrial company, to purchase $25 million of the company's stock at $3.59 per share. POSCO is building fuel cells in Korea in a licensing arrangement with FuelCell Energy.

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