EAST HARTFORD, Conn. – Connecticut and the Northeast region are reinforcing their position as a world leader in researching, developing and manufacturing hydrogen and fuel cell technology at the 2017 Fuel Cell Seminar & Energy Exposition. Connecticut is host to two of the world’s largest fuel cell companies and some 600 supply chain businesses.
Connecticut Center for Advanced Technology (CCAT) will join other members of the Connecticut Hydrogen-Fuel Cell Coalition including the Connecticut Green Bank, Precision Combustion, Inc., Sustainable Innovations, LLC, Proton OnSite, Doosan Fuel Cell America, FuelCell Energy, US Hybrid and Advent Technologies in participating at the Fuel Cell Seminar to develop new business opportunities and showcase the state’s resources and capabilities. Connecticut’s strong industry presence also demonstrates Connecticut’s support for the fuel cell and hydrogen industry, which will bolster business recruitment here. The Seminar is being held Nov. 7-9 in Long Beach, Calif.
This effort is made possible through the support of the Connecticut Green Bank, Connecticut Department of Economic and Community Development and CCAT.
“This industry delivers clean, energy- efficient solutions to the nation’s energy supply problems, and provides economic benefits to the state and the region,” said Joel Rinebold, CCAT director of the energy. “Hydrogen and fuel cell technology provides Connecticut and the region an opportunity to fully use its renewable energy industry with hydrogen and fuel cells for transportation, energy storage, and use at consumer sites, which will reduce air emissions, improve reliability, and create new jobs.”
A recent IMPLAN economic analysis, found that the hydrogen and fuel cell industry in the Northeast region experienced growth over the last five years based on several factors including employment, revenue and investment, labor income, and state and local tax revenue. The study also found that the economic impact of Connecticut’s hydrogen and fuel cell supply chain was significant, contributing nearly $601 million in revenue and investment, more than 2,800 direct, indirect and induced jobs and approximately $286 million in labor income. The study also projected that annual state and local tax revenues stemming from the State’s hydrogen and fuel cell industry was more than $31 million.
“One of the key drivers to advancing renewable energy, including hydrogen and fuel cell technology, is access to low-cost capital,” said 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.”
Since 2011, every public dollar invested by the Connecticut Green Bank has attracted at least six dollars of private investment. An estimated 13,000 jobs have been created through the Green Bank’s programs, which has also driven over $1 billion of clean energy investment across the state. This investment translates to more than 215 megawatts of clean power, over 20,000 projects, and a reduction of carbon dioxide emissions by 2.6 million tons.
About the Coalition
The Connecticut Hydrogen-Fuel Cell Coalition, administered by the Connecticut Center for Advanced Technology, is comprised of representatives from Connecticut’s fuel cell and hydrogen industry, labor, academia, government, and other stakeholders. CCAT and the Connecticut Hydrogen-Fuel Cell Coalition work to enhance economic growth in Connecticut through the development, manufacture, and deployment of fuel cell and hydrogen technologies and associated fueling systems. The CHFCC is supported by the State of Connecticut, CCAT, and its members.
Connecticut Center for Advanced Technology Inc. (CCAT) is a nonprofit organization, headquartered in East Hartford, Conn., that creates and executes bold ideas advancing applied technologies, IT strategies, energy solutions, STEM education, and career development. By leading state, regional, and national partnerships, CCAT helps manufacturers, academia, government and nonprofit organizations excel. Learn more at ccat.us, or follow CCAT on Twitter – @CCATInc.
About Connecticut Green Bank
The Connecticut Green Bank is an entity that accelerates the deployment of clean energy by using limited public dollars to attract private capital investment in clean energy projects. In doing so, it makes clean energy more affordable and accessible to consumers. The Connecticut Green Bank innovates, educates and is active in accelerating the growth of green energy. The Connecticut Green Bank partners with private-sector investors to create low-cost, long-term, sustainable financing to implement green energy measures in the residential, commercial, industrial, institutional and infrastructure sectors. www.ctgreenbank.com