Taiwan Gives Subsidy to Micro Fuel Cell Company

March 23, 2006 by Jeff Shepard

The Taiwanese Ministry of Economic Affairs (MOEA) has approved a subsidy for the Taoyuan County-based Green Hydrotec Inc. that has proposed the development of techniques, machinery and equipment for hydrogen supply modules in portable fuel cells.

This is only one of numerous subsidies provided by the Taiwanese government totaling NT$59 million (US$1.8 million) to 25 technological development projects proposed by local small and medium enterprises (SMEs) as an effort to upgrade industrial expertise, MOEA officials said Tuesday.

The enterprises will invest over NT$100 million of their own funds in the subsidized projects. Since the MOEA began a program in February 1999 aimed at encouraging local SMEs to develop innovative technologies, the ministry has given the green light to private sector applications for government subsidies on 1,697 technological development projects as of the end of February.

The government subsidies total NT$3.66 billion, with the incentive measure prompting concerned SMEs to invest an additional NT$7.75 billion on subsidized projects.