PSX - Phillips 66 receives $3M grant for advancing reversible SOFC technology

U.S. Department of Energy granted Phillips 66 ([[PSX]] -3.0%) a $3M grant for advancing the development of high-performance reversible solid oxide fuel cells.Phillips 66 will collaborate with the Georgia Institute of Technology to demonstrate the commercial feasibility of a low-cost and highly efficient reversible solid oxide fuel cell ((SOFC)) system for hydrogen and electricity generation.The company has made significant technical progress in the area of solid oxide fuel cells and holds eight U.S. granted patents and 22 pending U.S. patent applications in its SOFC intellectual property portfolio.Phillips 66 will be the research lead on the grant, with Georgia Tech as a collaborative partner.

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Phillips 66 receives $3M grant for advancing reversible SOFC technology