Raymond Corporation believes hydrogen fuel cells is the fuel of the future.

The Chenango County company gave an update on its research that will reduce dependence on fossil fuels, while increasing business production.

The Raymond Corporation shows off the first indoor hydrogen refueling system in New York State.

It's teamed up with the New York State Energy Research and Development Authority, or NYSERDA on the project.

It uses hydrogen fuel cells to power 4 fork lifts.

"With the hydrogen fuel cell in our fork lift truck, all you have to do is refuel the tank, just like you fill a gasoline tank in your car, then you're good to go again," says Steve Medwin of Raymond Corp.

The fuel cells will boost the company's productivity.

Instead of spending up to 20 minutes changing a forklift's battery, it can be done more quickly.

And fuel cells are easier to maintain than the batteries.

"They have to be maintained properly, discharged properly, recharged properly so the fuel cell may in fact take away the burden of extreme care and maintenance," says Jim Malvaso of Raymond Corp.

Running the fork lifts using hydrogen fuel cells will also cut down the impact on the environment.

"The forklifts will run omitting only water vapor. No carbon dioxide, no carbon monoxide, no other obnoxious gasses," says Gunnar Walmet of NYSERDA.

The technology is still in its early stages.

But the hope is that the development of the hydrogen fuel cells will continue.

And help lower the dependence on non-renewable energy sources.

The Raymond Corporation has a contract with NYSERDA for a two year study on the performance of hydrogen fuel cells in lift trucks.

The project will cost 1.3 million dollars.