Alternative Energy

Article on Channel NewsAsia on 26th March.



EDB to pump S$350m to develop Singapore's clean energy industry
By Valarie Tan, Channel NewsAsia Posted: 26 March 2007 2115 hrs

SINGAPORE: Singapore will pump in a total of S$350 million to develop its clean energy industry.

This includes the previous S$170 million announced by Prime Minister Lee Hsien Loong recently.

The money will be spent to develop clean fuel products and groom manpower over the next five years.

There are also plans to export locally developed products overseas.

The fuel cell car, currently on trial in Singapore, is powered by electricity.

Such prototypes and more are expected under the Fuel Cell Community, set up at Temasek Polytechnic's School of Engineering, which is supported by the Economic Development Board (EDB).

Its focus is to help local companies and technopreneurs get started on developing fuel cell products.

Companies can even test-drive their prototypes at the poly's S$5.5 million fuel cell application centre, which will be completed in November this year.

Cham Yew Thean, Head, Temasek Engineering School, said: "We'll be initiating projects with members and partners in the hope of developing fuel cell commercial products for the market. These fuel cell products will develop an industry. Once we commercialise the products, then we're able to generate an industry manufacturing plant to produce these systems."

The Fuel Cell Community currently has about 17 members, including Bishan-Toa Payoh Town Council, which can partner companies to test their products at housing estates.

All these come under Singapore's Clean Energy Industry Blueprint.

Headed by a newly formed Clean Energy Programme Office, the blueprint sets out to fund projects, build world-class research centres and groom manpower to power up the industry in Singapore.

Lim Siong Guan, Chairman, EDB, said: "EDB wants to do the same for the broader clean energy industry, not just fuel cells. We want to position Singapore as a global clean energy hub where clean energy companies can come to incubate, develop and produce solutions not only for Singapore, but to export to the world."

EDB said another reason why Singapore is going big on the clean energy industry is because of the growing market due to rising prices of fuel.

Nearly one billion people live without electricity in South Asia and Southeast Asia, and companies in Singapore can bring their clean energy products into these markets.

The clean energy industry is expected to boost Singapore's economy by about S$1.7 billion and create 7,000 jobs by 2015.



I need to find some way to wriggle into this field. I strongly believe, not only is there money to be made, it's going to change the world.

And I just learnt that my big boss is interested in renewable fuels too.



Post Date: 28 Mar 2007