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 NexTech lands fuel cell state grant
Publication Date:30-March-2005
Source: Business First of Columbus
NexTech Materials Ltd. on Wednesday received a $175,000 state grant to help bring its fuel cell technology to market.

The grant comes from Ohio's Third Frontier Program, a 10-year plan to spur high-tech business in the state. The Lewis Center-based company is making a low-temperature fuel cell that could power portable electric devices, emergency generators and automotive uses.

Fuel cells extract energy from fuel through a chemical process, whereas traditional engines burn fuel. Fuel cells are intended to be cleaner than combustion engines.

NexTech received a $300,000 Third Frontier grant and a $2 million federal grant in 2004. It received a $640,000 low-interest loan and a package of tax incentives from the state to help it move into a larger facility in 2003.
 


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