This could prove to be a breakthrough for bio-ethanol based fuel cells. Current fuel cells are mostly methanol based which is a toxic chemical and have low efficiency.
Here is the ScienceDaily (2009-01-29) article:

Scientists have developed a new catalyst that could make ethanol-powered fuel cells feasible. The highly efficient catalyst performs two crucial, and previously unreachable steps needed to oxidize ethanol and produce clean energy in fuel cell reactions.