$42 Million in New Fuel Cell Funding

WASHINGTON - Department of Energy officials announced $41.9 million in fuel cell funding to system deployment.

The money will supplement $72.4 million that the companies have promised to devote to the deployment of fuel-cell systems. The recipients include FedEx Corp. (FDX), which will receive $1.3 million to deploy 35 fuel-cell systems to replace batteries for a fleet of electric-lift trucks at its Springfield, Missouri, service center.

The federal funds come from more than $40 billion in energy-related economic stimulus grants and loans mandated by law earlier this year. --DowJones