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, as part of celebrating National
Hydrogen and Fuel Cell Day in the United States, provides an update
on its various Advanced Technologies programs. FuelCell Energy
began researching and formulating its platform solutions in 1969,
and has produced well over 10 million-megawatt hours of clean
electricity since commercializing its first platform 17 years ago.
The energy sector is undergoing an unprecedented
global transformation as part of the push to decarbonize. Meeting
carbon goals set by companies, states, and countries worldwide will
require a multidimensional strategy and commitment from all
participants across all energy sectors. FuelCell Energy is uniquely
positioned to support the rapid growth associated with the hydrogen
economy, by not only leveraging its proven carbonate fuel cell
technology that is capable of producing both electricity and
hydrogen while capturing carbon, but also through commercialization
of its SureSource Storage solid oxide platform, anticipated to
offer industry leading efficiencies in the production of renewable
hydrogen.
Leveraging five decades of research and
development expertise, FuelCell Energy has evolved its SureSource
carbonate fuel cell technology to focus on hydrogen as a product.
Our SureSource carbonate fuel cells extract hydrogen from biogas or
natural gas through a clean reforming reaction with water that
occurs in the stacks’ fuel electrodes. This local production of
hydrogen is unique and highly efficient, as key elements needed by
the reforming reaction – heat and water – are byproducts of the
already occurring SureSource fuel cell reactions.
Distributed Hydrogen:
SureSource Hydrogen systems are modified to
produce extra hydrogen, which is then extracted from the system and
purified for a wide range of other uses. A standard SureSource
Hydrogen system generates approximately 2.35 MW of electricity and
1.2 tons of hydrogen per day, enough electricity to supply
approximately 2,350 average-sized homes and hydrogen meet the daily
driving needs of nearly 1,500 fuel cell vehicles.
Electrolysis and Long Duration Energy
Storage to Transform the
Grid:
FuelCell Energy’s solid oxide fuel cells are
capable of electrolysis in addition to power generation.
Electrolysis is the opposite of fuel cell power generation: instead
of making power and water from fuel and oxygen, electrolysis cells
make hydrogen and oxygen from water and power. Supporting a
long-duration storage application, FuelCell Energy’s solid oxide
fuel cells can operate in electrolysis mode during the charge
cycle, using renewable and other delivered power from the grid to
produce hydrogen, which can be stored for later use.
During the discharge cycle, the stored hydrogen
is consumed in the fuel cells in power generation mode, returning
power to the grid for consumption as needed, particularly when
other power resources like wind and solar are not producing
electricity. Storage capacity is easily expanded by adding
additional hydrogen storage tanks or storage caverns, which enables
a low cost and scalable approach for clean energy storage. Long
duration electricity storage is a growing need given the increasing
penetration of intermittent renewable sources of solar and
wind.
Conventional electrolysis systems based on
polymer membrane or alkaline electrolyte cells operate near ambient
temperature and convert water to hydrogen with electrical
efficiency generally ranging 60% to 65%. FuelCell Energy’s solid
oxide electrolysis platform operates at much higher efficiency,
producing more hydrogen for a given amount of power input. Under
some conditions, the cells can be operated at or above 100%
electrical efficiency, as long as thermal energy is supplied to the
stack to maintain thermal balance.
Climate Change Mitigation – Carbon Capture:
In the SureSource Capture application, instead
of ambient air, exhaust flue gas containing carbon dioxide can be
routed to the air electrodes of the fuel cell. Those carbon dioxide
molecules are transferred to the fuel electrodes, where carbon
dioxide is concentrated allowing for easy removal and purification.
Carbonate fuel cells are the only known fuel cell technology that
can be utilized to capture carbon dioxide from an external source.
Additionally, nitrogen oxides in the flue gas (an ozone precursor
pollutant) will be largely destroyed as the gas flows through the
fuel cell.
FuelCell Energy’s proprietary SureSource Capture
platform produces power while capturing carbon dioxide, unlike
other carbon capture applications which require power to
operate.
FuelCell Energy’s Advanced Technologies programs
are designed to assist in the mitigation of climate change and
improve air quality. From the production of hydrogen for vehicle
fueling, industrial applications, or power generation to
concentrating carbon dioxide from coal plants, natural gas fired
power plants and industrial applications, to enabling long duration
energy storage through electrolysis, FuelCell Energy’s clean fuel
cell technology is poised to make meaningful changes to the energy
landscape.
Forward-Looking Statements
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, 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,
changes by the U.S. Small Business Administration or other
governmental authorities to, or with respect to the implementation
or interpretation of, the Coronavirus Aid, Relief, and Economic
Security Act, the Payroll Protection Program or related
administrative matters, and concerns with, threats of, or the
consequences of, pandemics, contagious diseases or health
epidemics, including the novel coronavirus, and resulting supply
chain disruptions, shifts in clean energy demand, impacts to
customers’ capital budgets and investment plans, impacts to the
Company’s project schedules, impacts to the Company’s ability to
service existing projects, and impacts on the demand for the
Company’s products, 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 Energy
FuelCell Energy, Inc. (NASDAQ: FCEL) is a global
leader in developing environmentally responsible distributed
baseload power solutions through our proprietary, molten-carbonate
fuel cell technology. We develop turn-key distributed power
generation solutions and operate and provide comprehensive service
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, applications, markets and geographies.
Our mission and purpose remains to utilize our proprietary,
state-of-the-art fuel cell platforms to reduce the global
environmental footprint of baseload power generation by providing
environmentally responsible solutions for reliable electrical
power, hot water, steam, chilling, distributed hydrogen, microgrid
applications, electrolysis, long-duration hydrogen-based energy
storage 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.
For more information please visit
www.fuelcellenergy.com
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.
Investor Relations
Contact:FuelCell Energy, Inc.ir@fce.com+1 203-205-2491
Source: FuelCell Energy
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