FuelCell Energy Celebrates Significant 10 Million MWH Milestone; Provides Clean, Resilient, Secure Power across Multiple Appl...
May 08 2020 - 8:00AM
FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in
fuel cell technology -- with a purpose of utilizing its
proprietary, state-of-the-art fuel cell platforms to enable a world
empowered by clean energy -- today announced achievement of a
significant energy output milestone by delivering more than 10
million megawatt hours from its SureSource™ fuel cell power
platforms globally since its first commercial installation.
SureSource™ plants are currently installed and operating on three
continents, with many owned by leading utility companies and global
commercial and industrial enterprises from around the world that
recognize the benefit of clean, resilient, continuous power.
FuelCell Energy is committed to environmentally responsible power
solutions that address major energy opportunities around the world.
“Ten million megawatt hours is the culmination
of five decades of innovation optimizing the SureSource™ power
platform,” said Jason Few, President and CEO of FuelCell Energy.
“Our fuel cell platform provides differentiated clean energy
solutions to meet key utility, community, and commercial and
industrial customer’s energy needs. FuelCell Energy’s power
platforms meet the energy needs of critical facilities such as
hospitals, schools, and microgrids. Our platforms are multi-fuel
including zero-carbon solutions through the use of onsite biofuels.
We are advancing the transition to a large scale, distributed
energy infrastrure, with our platforms that produces virtually no
pollution.”
Our current operating fleet delivers solutions
for:
- Hospitals
- Universities
- Hotels
- Municipalities
- Waste water treatment facilities, by utilizing our
proprietary SureSource TreatmentTM system
- Utilities, through our multi-megawatt utility-scale
solutions
- Industrial applications
- District heating and cooling applications
- Pharmacology Research Facilities
- Large-scale microgrids
As of today, nine states in the United States
and Puerto Rico have classified stationary fuel cells in the
highest tier of clean power generation due to the high efficiency
and resultant low carbon emissions, combined with negligible NOx
and particulate emisisons typical of combustion based power
generation. While operating on biogas, SureSource™ fuel cell
systems are typically classified as carbon-neutral, or in some
cases carbon negative, by regulatory authorities due to the
renewable nature of the biogas fuel source. According to the United
States Environmental Protection Agency (EPA) greenhouse gas
equivalency calculations, the low-carbon, ultra-clean ten million
megawatt hours cumulatively generated from SureSource™ fuel cells
in comparison to the grid is equivalent to avoiding more than one
and a half million tons of CO2 and more than five thousand
tons of nitrogen oxides. These are reductions equivalent to taking
more than 350,600 cars off the road each year.
“The unique attributes of the SureSource™
platforms enable improvements in energy efficiency while
simultaneously reducing emissions and costs for our customers,”
said Jason Few. “Higher efficiency drives better economics and
environmental stewardship, supporting both social responsibility
goals and public policy objectives while providing a lower carbon
footprint.”
Cautionary Language
This news release contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, including,
without limitation, statements with respect to the Company’s
anticipated financial results and statements regarding the
Company’s plans and expectations regarding the continuing
development, commercialization and financing of its fuel cell
technology and its business plans and strategies. All
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
projected. Factors that could cause such a difference include,
without limitation, changes to projected deliveries and order flow,
changes to production rate and product costs, general risks
associated with product development, manufacturing, changes in the
regulatory environment, customer strategies, ability to access
certain markets, unanticipated manufacturing issues that impact
power plant performance, changes in critical accounting policies,
access to and ability to raise capital and attract financing,
potential volatility of energy prices, disease outbreaks and
pandemics such as the novel coronavirus (“COVID-19”), rapid
technological change, competition, the Company’s ability to
successfully implement its new business strategies and achieve its
goals, the Company’s ability to achieve its sales plans and cost
reduction targets, and the current implications of Covid-19, as
well as other risks set forth in the Company’s filings with the
Securities and Exchange Commission. The forward-looking statements
contained herein speak only as of the date of this press release.
Except as required by applicable law, the Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in
the Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based.
About FuelCell Energy
FuelCell Energy, Inc. (NASDAQ:
FCEL) is a global leader in developing environmentally responsible
distributed baseload power solutions through our proprietary fuel
cell technology. We develop turn-key distributed power generation
solutions and operate and provide comprehensive services for the
life of the power plant. We are working to expand the proprietary
technologies that we have developed over the past five decades into
new products, markets and geographies. Our mission and purpose
remains to utilize our proprietary, state-of-the- art fuel cell
power plants to reduce the global environmental footprint of
baseload power generation by providing environmentally responsible
solutions for reliable electrical power, hot water, steam,
chilling, hydrogen, microgrid applications, and carbon capture and,
in so doing, drive demand for our products and services, thus
realizing positive stockholder returns. Our fuel cell solution is a
clean, efficient alternative to traditional combustion-based power
generation and is complementary to an energy mix consisting of
intermittent sources of energy, such as solar and wind turbines.
Our systems answer the needs of diverse customers across several
markets, including utility companies, municipalities, universities,
hospitals, government entities and a variety of industrial and
commercial enterprises. We provide solutions for various
applications, including utility-scale distributed generation,
on-site power generation and combined heat and power, with the
differentiating ability to do so utilizing multiple sources of fuel
including natural gas, Renewable Biogas (i.e., landfill gas,
anaerobic digester gas), propane and various blends of such fuels.
Our multi-fuel source capability is significantly enhanced by our
proprietary gas-clean-up skid.
SureSource, SureSource 1500, SureSource 3000, SureSource 4000,
SureSource Recovery, SureSource Capture, SureSource Hydrogen,
SureSource Storage, SureSource Service, SureSource Capital,
FuelCell Energy, and FuelCell Energy logo are all trademarks of
FuelCell Energy, Inc.
Contact: |
FuelCell
Energy203.205.2491ir@fce.comSource: FuelCell
Energy |
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