EAST HARTFORD, Conn., Dec. 2, 2015 (GLOBE NEWSWIRE) -- The Connecticut Hydrogen-Fuel Cell Coalition, administered by the Connecticut Center for Advanced Technology Inc. (CCAT), reinforced the state's position as the world leader in the research, development, and manufacture of hydrogen and fuel cell technology at the 2015 Fuel Cell Seminar & Energy Exposition held Nov. 16-19 in Los Angeles, California. Connecticut is host to two of the largest fuel cell companies in the world.
Coalition members, including the Connecticut Green Bank, Precision Combustion Inc., Sustainable Innovations LLC, Infinity Fuel Cell and Hydrogen Inc., Proton OnSite, Dexmet Corporation, Doosan Fuel Cell America, FuelCell Energy, US Hybrid, and CCAT, showcased the state's resources and capabilities at the global exposition.
Connecticut's strong industry presence also demonstrated the state's support for the hydrogen and fuel cell sector, which will bolster business recruitment in Connecticut.
"This was a great opportunity for our company to participate in the exhibition," stated Trent Molter, president and CEO at Sustainable Innovations LLC. "The industry is transitioning more and more from research and development to commercial applications that are cost effective."
The effort was made possible through a partnership between CCAT, the Connecticut Green Bank and the Connecticut Department of Economic and Community Development.
"We have well-established companies and organizations that are working collaboratively to move Connecticut's hydrogen and fuel cell industry forward," said Joel Rinebold, director of the energy initiative at CCAT. "Representatives from these organizations are nationally recognized experts in the hydrogen and fuel cell field. This industry is poised to deliver a clean solution to the nation's energy supply problems that will strengthen economic development with thousands of green jobs."
The event also featured several meetings on the latest technological and market developments for hydrogen and fuel cell technology. During a plenary session, industry participants confirmed the need to reduce costs and develop strategies to enhance the value for cleaner, more efficient technologies to capture a larger market share. In addition, increased education regarding the advantages of hydrogen and fuel cell technology was cited as critical to industry growth. Participants largely agreed that the primary benefits of the technology included reductions of air emissions, positive economic impact and job growth.
"In talking with many of the industry stakeholders at this year's conference, it was evident that one of the key drivers to advancing hydrogen and fuel cell technology is being able to get access to low cost capital," stated Rick Ross, associate director, Statutory and Infrastructure Programs at the Connecticut Green Bank. "The Connecticut Green Bank's model of using limited public funds to attract larger private capital investment in clean energy is a proven method for achieving this objective. The Green Bank has successfully attracted and invested over $630 million, and is leading the way for several states to follow suit in creating Green Banks."
About CCAT
Connecticut Center for Advanced Technology, Inc. (CCAT) is a nonprofit economic development organization headquartered in East Hartford, Conn., that leads and inspires innovation through state, regional, and national partnerships in advanced manufacturing technology, IT, education, workforce strategies, and energy solutions. To learn more about CCAT, visit www.ccat.us, or follow the company on Twitter - @CCATInc
About DECD
The Department of Economic and Community Development is the state's lead agency responsible for strengthening Connecticut's competitive position in the rapidly changing, knowledge-based global economy. The agency takes a comprehensive approach to economic development that incorporates community development, transportation, education and arts and culture.
About Connecticut Green Bank
The Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority) was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation's first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank's success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.