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In His Own Words

Fuel Cell Technology

Excerpted from a speech by Mikhail Prokhorov, President, ONEXIM Group

It is worth considering how Russia, as a major supplier of oil and gas, can contribute towards new technologies and solutions in this era of renewed environmental responsibility. In Russia today there is an understanding that our resources are not infinite. There is also a growing realization that in order to address current environmental challenges and to provide a sustainable future for all, we need to redouble our focus and investment in new technology.

Advances in the production of conventional energy sources will not by themselves be enough. Increasing demand coupled with declining resources, notwithstanding the clear link between carbon emissions and climate change means that radical solutions are required.

Towards this end we must redouble our efforts to explore alternative technologies. The most promising of these new technologies ways of hydrogen fuel cells. Fuel cells are far more efficient than traditional fuels in producing energy and thus causing far less damage to the environment. Moreover, unlike other forms of energy, the energy from fuel cells can be stored during off-peak hours and then used at peak times.

I believe that nanotechnology and hydrogen fuel cells will capture the imagination of scientists, business leaders and environmental communities in Russia and across the globe. While there are significant obstacles, in terms of infrastructure and distribution, the time has come for a bold commitment to the development of new technology and new solutions. The prize of a sustainable and environment-responsible energy source is a bold and noble goal for the whole humanity.

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More Resources

Commentary and opinions: a selection of excerpts from speeches and presentations by Mikhail Prokhorov