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Innovation Incentive Initiative - Advanced Fuels |
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There is a clear national and regional need for alternative sources of energy production and more efficient energy utilization. Alternative (non-petroleum based) sources of energy from coal, water, sun, plants, and biological systems, and unique ways of converting these energy resources into electricity via fuel cells, electrolysis, and solar power conversions are a critical need. The development of new energy resources has been identified by the President of the United States as a major national priority, one that is critical to national security, economic growth and social stability. Ohio’s economy is very sensitive to variations in energy costs. The development of new sources of energy and new energy conversion strategies will increase economic stability and growth in the state. Ohio also has a growth opportunity in the current and predicted energy environment, in that it has coal reserves that are among the largest in the nation. New technologies to convert coal into clean fuels are essential. In addition, Ohio’s grows a considerable amount of corn and soybeans – convertible into ethanol, which many see as an alternative to gasoline.
Achieving these and other advances will spawn new business ventures and industries in the state, and will establish Ohio as a key player in reshaping worldwide energy policy.
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