Aug 22, 2007 4:57 pm US/Eastern
Local Company Helps Gov. Develop Green Technology
by Lesley Van Arsdall
BUCKS COUNTY, Pa. (CBS 3) ―
The Power and Energy Company based out of Ivyland is one of the first companies in the country to be awarded a multimillion dollar contract from the government to help develop green technology.
Pennsylvania Congressman Patrick Murphy was proud to make the announcement on Wednesday.
"This company develops technology that produces high quality hydrogen, allows ships, our navy ships, to generate fuel cells more efficiently," Congressman Patrick Murphy said.
The $3 million dollars will accelerate the rate the product can be made by extracting hydrogen from existing fuels that can then be used as energy. The company claims to be the only one in the country to have successfully done so.
"It will do twice as much work for the same gallon of fuel or to do the same amount of work you use half as much fuel which means there's half as much pollution generated," Power and Energy Inc. Al Stubbmann said.
The Navy has been contracting the company for years because it's interested in finding an alternate way to fuel ships but that is just a small part of a much larger picture.
"We've not decided to change our lifestyles yet so for the same lifestyle we could cut down on the amount emissions weather it's our car or heating our house," Stubbmann said.
The process will save people money.
"We will reduce the fuel that we purchase which reduces our dependency on imported oil, and as the demand goes down, the price will go down. So everybody will win," Stubbmann said.
If all goes as planned the fuel product should be ready in about 18 months.
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