FuelCell Energy to Deliver Breakthrough Efficiency Power Generation Solution at Distributed Generation Scale
September 06 2016 - 8:49AM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in the
design, manufacture, operation and service of ultra‐clean,
efficient and reliable fuel cell power plants, today announced the
development of a utility scale power project to showcase industry
leading electrical efficiency that enables utilities to affordably
and cleanly solve power generation challenges in land-constrained
areas. Construction will begin within weeks for a 3.7
megawatt fuel cell power plant at a location in Danbury,
Connecticut, following recent approval by the Connecticut Siting
Council.
“This fuel cell solution is a breakthrough in transforming power
generation networks to a cleaner, more affordable and capital
efficient model that meets the needs of global economies today,”
said Chip Bottone, President and Chief Executive Officer, FuelCell
Energy, Inc.
“We are enhancing the electrical efficiency of this fuel cell
power plant by configuring the fuel cell modules in a series to
utilize the fuel to the greatest degree possible,” said Tony
Rauseo, Senior Vice President and Chief Operating Officer, FuelCell
Energy, Inc. “This is a really innovative design targeting utility
and data center applications.”
“Our business model of locating clean and affordable power near
where the power is used acts to spur urban redevelopment by
enhancing local infrastructure and generating property and sales
tax revenue for municipal and state governments to a degree that
other clean distributed power generation projects have difficult
matching,” said Michael Bishop, Senior Vice President and Chief
Financial Officer, FuelCell Energy, Inc. “The high
availability of fuel cells drives significant renewable energy
credit generation supporting both project economics and state-level
renewable power standards.”
The standard 2.8 megawatt DFC3000® power plant utilizes two fuel
cell modules operating in parallel. This 3.7 megawatt
configuration adds a third module that utilizes unused fuel from
the other two fuel cell modules as well as heat, along with some
natural gas input to economically and efficiently produce
additional power. The 3.7 megawatt power plant, adequate to
power approximately 3,700 average size homes, will occupy only
about 10,000 square feet, or only a ¼ of an acre, of an industrial
lot near an existing electrical substation. FuelCell Energy
has executed a long term lease for the land and expects to sell the
power to the local utility, supplying the power to a nearby
electrical substation. The Company will explore opportunities
to sell the project after commissioning.
Multi-megawatt fuel cell installations solve power generation
challenges as the combination of near-zero pollutants, modest
land-use needs, and the quiet operating nature of fuel cell power
plants facilitates their siting in urban locations. Fuel cell
power plants offer a multitude of advantages for utilities and
neighboring communities, including:
- Environmentally friendly power generation with virtually
zero nitrogen oxide (NOx) that causes smog, sulfur dioxide (SOx)
that contributes to acid rain, or particulate matter (PM10) that
aggravates asthma, and the power is delivered with a low carbon
footprint
- Distributed power generation places power near where it is
used, enhancing the resiliency of the grid and avoiding the line
losses associated with transmission
- Highly efficient power generation process that is
economical
- Continuous renewable power around the clock that is not reliant
on weather or time of day
- Rapid construction with a 59 MW fuel cell park constructed in
only 14 months
About FuelCell EnergyDirect FuelCell® power
plants are generating ultra-clean, efficient and reliable power on
three continents, affordably providing continuous distributed power
generation to a variety of industries including utilities,
commercial and municipal customers. The Company’s power
plants have generated billions of kilowatt hours of ultra-clean
power using a wide variety of fuels including renewable biogas from
wastewater treatment and food processing, as well as clean natural
gas. For additional information, please visit
www.fuelcellenergy.com and follow us on Twitter.
Direct FuelCell, DFC, DFC/T, DFC-H2, DFC-ERG and FuelCell Energy
logo are all registered trademarks of FuelCell Energy, Inc.
Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
FuelCell Energy (NASDAQ:FCEL)
Historical Stock Chart
From Mar 2024 to Apr 2024
FuelCell Energy (NASDAQ:FCEL)
Historical Stock Chart
From Apr 2023 to Apr 2024