Leading figures in the Canadian fuel cell industry are calling for a national strategy to maintain the country's status at the forefront of alternative fuel source technology.

Executives from Ballard Power Systems and Hydrogenics will head a group of industry figures set to travel to Ottawa this week to lobby the federal government for financial incentives to encourage further development of fuel cells.

In particular, the fuel cell industry is seeking the introduction of flow-through share mechanisms, which it is claimed will afford investors the chance to use the tax write-offs that are generated by the companies, the Globe and Mail reports.

John Sheridan, Chief Executive of Ballard, said: "We feel we are at a critical time when commercialisation opportunities are in front of us.

"We feel we have an impact we can make in terms of desperately required energy technology and environmental solutions. But I don't see the government as engaged and I don't see the government as particularly supportive of what we could be doing as a sector."

The introduction of a system of tax breaks akin to that in operation in Japan and Canada will be crucial in attracting capital and expanding the market, John Tak, President of Hydrogen and Fuel Canada said.

He commented: "Investors are looking at where companies can get supplemental sources of cash. And they are going to invest where they see there is [government] partnership funding available."

Source:

Fuel cell industry calls for national strategy, 13/11/07
http://www.theglobeandmail.com/servlet/story/LAC.20071113.RHYDROGEN13/TPStory/Business

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