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Taiwan Approves Subsidies for Fuel Cell Developer Green Hydrotec Inc.

Publication Date:22-March-2006
08:00 AM US Eastern Timezone
Source:Asia Pulse

TAIPEI, March 22 Asia Pulse - The Ministry of Economic Affairs (MOEA) has approved subsidies totaling NT$59 million (US$1.8 million) to 25 technological development projects proposed by local small and medium enterprises (SMEs) as an effort to upgrade industrial expertise, MOEA officials said Tuesday.

The enterprises will invest over NT$100 million of their own funds in the subsidized projects, the officials said.

Since the MOEA began a program in February 1999 aimed at encouraging local SMEs to develop innovative technologies, the ministry has given the green light to private sector applications for government subsidies on 1,697 technological development projects as of the end of February.

The government subsidies total NT$3.66 billion, with the incentive measure prompting concerned SMEs to invest an additional NT$7.75 billion on subsidized projects.

The new beneficiaries include the Taoyuan County-based Green Hydrotec Inc. -- which has proposed the development of techniques, machinery and equipment for hydrogen supply modules in portable fuel cells -- and the Taipei-based U&U Engineering Inc., an integrator of high-tech microwave, opto-electronic and electronic systems.


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