In the search for green solutions for the fuel for your powerboat, yacht or tinny, many companies are making inroads. Hydrogen as fuel and clean diesel solutions were the key attributes which have enabled two companies to win The CleanEquity Monaco 2008 Award for Excellence at CleanEquity Monaco 2008, Europe's international cleantech investor conference.
Hydrogen as fuel - viable soon?
The conference brought together over 40 of the world's most exciting environmental technology companies and about 300 delegates.
ITM is a British company leading the alternative fuel revolution by developing ways of using hydrogen to fuel vehicles and provide power for homes and offices. It won in the Field of Environmental Technology Research.
Clean Diesel Technologies, Inc. is a global company providing innovative technologies and solutions that reduce emissions, conserve fuel and improve engine performance. It won in the Field of Environmental Technology Commercialization.
The award nominees were selected by an independent panel of cleantech experts and included members of the investment and corporate communication disciplines.
The awards were presented by H.S.H. Prince Albert II of Monaco at a ceremony in Monaco at the end of the two-day international conference on emerging environmental technologies.
ITM's Chief Executive Officer, Jim Heathcote said: 'This is a great honour and recognition of the hard work that everyone at ITM Power is doing to make hydrogen fuel a commercial reality.
'We have made tremendous breakthroughs in science and technology that will allow us to produce low-cost fuel cells and electrolysers. These products will open the doors to zero emission energy solutions.'
ITM Power's scientists have been researching and developing the technology for more than a decade. Later this year the company will open a factory in Sheffield to start commercial production.
The company was founded in 2000 and is listed on the London Stock Exchange's Alternative Investment Market (AIM). It employs around 60 people and has head offices near Saffron Walden and research and development facilities in Sheffield.
Dr. Bernhard Steiner, president and CEO of Clean Diesel Technologies said 'We are very proud to receive this award and to be recognized in this way by such a panel of environmental technology experts.
'This award recognizes not only our current success in commercialization through deals with Robert Bosch and Tenneco, but also, the certification to supply the London Low Emission Zone (LEZ) provides substantial revenue potential for our technologies. I offer my congratulations and thanks to all the Clean Diesel employees and a big thank you to CleanEquity Monaco for this prestigious award,' noted Dr. Steiner.
Zenergy Power also received a similar award for Excellence in Research. Chief sponsors of CleanEquity Monaco 2008 were Barclays Wealth and Barclays Capital. The Regional Host was the Chambre de Developpement Economique de Monaco.