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“Stepping on the gas” takes on a whole new meaning behind the wheel of Hyundai’s third-generation fuel-cell electric vehicle, the ix35.

UL (Underwriters Laboratories), a leading solar product safety testing and certification organization, said focusing on photovoltaic product reliability and durability would be the key to further develop Asia-Pacific’s booming green energy industry.

JX Nippon Oil & Energy Corp. plans to launch overseas sales of its home fuel cells, aiming to first enter the South Korean market around 2013, The Nikkei learned Sunday.

FuelCell Energy, Inc., a leading manufacturer of ultra-clean, efficient and reliable power plants, today announced market expansion into Indonesia with the sale of a sub-megawatt Direct FuelCell® module to partner POSCO Power for installation at a showcase location in Indonesia.

South Korea’s Samsung SDI Co Ltd said it expects the global solar cell market to be worth $70 billion by 2020, more than double last year’s $30 billion, with falling prices and government support expected to drive demand globally.

A $97 million-guarantee fund raised by power generators, energy distributors and banks will spur South Korean companies to invest in clean-energy, an industry official said.

Major overseas solar cell manufacturers are marching into Japan, counting on growing demand for renewable energy.

Softbank Corp. President Masayoshi Son stressed the need to promote the use of renewable energy during a meeting on Monday with South Korean President Lee Myung-bak.

Clean energy project developers are set to benefit from the $2bn a year the Asian Development Bank will commit to the industry from 2013, as it announces it will invest $60m to set up three venture capital funds.

New site devoted to covering Asia’s fast-moving sustainable business development Hong Kong. A new Internet portal, aimed at acting as a primary source for executives looking for news and views on the burgeoning sustainable business sector in the world’s fastest growing economic region, was launched today at www.CleanBiz.asia.