FuelCell Energy (NASDAQ:FCEL)
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1 Year : From Jan 2019 to Jan 2020
FuelCell Energy, Inc. (Nasdaq: FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, today announced a 1.4 megawatt project with the City of San Bernardino Municipal Water Department (SBMWD). The SureSource 1500™ power plant will operate on anaerobic digester gas (ADG) and as needed, natural gas, cleanly producing electricity and thermal energy to support the operation of the SBMWD water reclamation plant. SBMWD will purchase the electricity produced through a 20-year Power Purchase Agreement (PPA). The fuel cell power plant will use the company’s proprietary conditioning system technology for gas treatment, fuel blending and quality monitoring.
Servicing a population of approximately 200,000 residents, the SBMWD delivers more than 12.5 billion gallons of water per year and provides wastewater collection and treatment for approximately 22 million gallons per day at the water reclamation plant.
FuelCell Energy’s 1.4 megawatt fuel cell power plant achieved certification operating on biogas in 2017 under the California Air Resources Board (CARB 2013) distributed generation emission standards acknowledging the clean air profile of SureSource™ solutions. The fuel cell installation is a key element of the SBMWD initiatives to comply with South Coast Air Quality Management (SCAQMD) rules related to air pollution control requirements at the water reclamation plant.
“We are pleased to enter into this new agreement with the City of San Bernardino Municipal Water Department with our utility scale power and heat fuel cell solution, coupled with our own engineered and designed biogas treatment system," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. “Our solution is an excellent fit with off-takers such as water reclamation plants, as our plant can operate at peak efficiency on the resident anaerobic digester gas. Adding to the financial proposition is the thermal heat being provided to the treatment process, while also being in full compliance with SCAQMD provisions reducing or eliminating the need for flaring the waste gas.”
SureSource™ power plants are fuel flexible and can utilize on-site, renewable biogas as a fuel source; therefore, wastewater treatment facilities with readily available biogas are well suited for the Company’s fuel cell solutions. In this application, generating savings with affordable power priced as much as 20% below grid prices, FuelCell Energy converts wastewater emission disposal problems into operating cost savings via a turn-key solution and supports sustainability initiatives by cleaning and utilizing the on-site biogas rather than flaring it. The continuous power profile of the fuel cell power plant will enhance the SBMWD facilities’ energy resiliency with affordable on-site power and support the overall wastewater treatment process.
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 business plans. 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, unanticipated manufacturing issues that impact power plant performance, changes in critical accounting policies, potential volatility of energy prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and cost reduction targets, 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. 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 EnergyFuelCell Energy, Inc. (NASDAQ: FCEL) delivers efficient, affordable and clean solutions for the supply, recovery and storage of energy. We design, manufacture, undertake project development of, install, operate and maintain megawatt-scale fuel cell systems, serving utilities and industrial and large municipal power users with solutions that include both utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long duration energy storage. With SureSource™ installations on three continents and millions of megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader in designing, manufacturing, installing, operating and maintaining environmentally responsible fuel cell power solutions. Visit us online at www.fuelcellenergy.com and follow us on Twitter @FuelCell_Energy.
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.
Source: FuelCell Energy