|Stimulus Package Boosts Green Technology |
February 19, 2009
San Jose, Calif. - President Obama's stimulus package is giving a boost to green
technology among the many programs in the stimulus package. More than $10
billion will go towards developing greener cars and for some its perfect timing.
"Opens this door and allows me to plug in the car, close the door and it will
lock on here and you can see the lights on the back of the car light up and that
shows that the charging is underway," said Richard Lowenthal.
Lowenthal is the CEO of Coulomb Technologies which makes the charging stations.
The stations sell for $2,000 to $3,000.
"Our business is exploding, today we had three new customers," said Lowenthal.
Lowenthal said the stimulus plan will jump-start his business.
"It gives credits to our customers for buying a station. Basically what it means
is that they're half off because they get a 50% tax credit every time they buy a
station," Lowenthal said.
Lowenthal's start-up company has 30 employees, but he said he expects his
business to grow to 150 workers within a year.
"This is the power input to the product, the high power from the street goes
into here and we take the voltage from here into the product," said
manufacturing engineer Tony Vastraka.
While Lowenthal said the company didn't intend to apply for the grants from the
stimulus package, he said the product they sell will create jobs because the
charging stations have to be installed.
"We need the electricians out there putting light bolts in concrete and hooking
up electricity to make it go, so the sale of our stuff is very highly
leveraged," said Lowenthal.
The mayor of San Jose said his city is one of many that will benefit from the
"The stimulus package has a lot of great things for the city of San Jose, but
even if we don't get a single dollar as a city, there is tens of billions of
dollars for clean technology and as our clean tech companies grow, the city of
San Jose will do very well because of the jobs that will be created through the
clean technology," said Mayor Chuck Reed.
The stimulus bill is said to include more than $70 billion for green technology.