3M Gets $3 Million Investment To Make Efficient Fuel Cells For Cars
MINNEAPOLIS (WCCO) – The Department of Energy announced Thursday it will make an investment of $3 million in Minnesota-based 3M Co., so as to help it develop cost-effective and efficient fuel cell systems.
The focus of the investment is to cut the cost and boost the performance of fuel cells in cars and stationary devices.
Energy Secretary Steven Chu said the investment supports President Barack Obama’s all-of-the-above approach energy strategy.
“This investment in Minnesota will help fuel technology breakthroughs, drive down costs, and bring innovative, job-creating clean energy technologies to market faster,” Chu said.
Fuel cells are devices that convert fuel — usually hydrogen or natural gas — to clean electricity, the department said.
The Energy Department has targets set for advanced car technologies. The investment in 3M supports an effort to reach 60 percent peak efficiency, $30 per kilowatt cost and 150,000 miles of driving worth of durability by 2017.