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, this morning at an
11:00 AM press conference at the State Capitol in Hartford, leaders
of Danbury-based FuelCell Energy (FCE), joined by State
Representatives Michelle Cook of Torrington, David Arconti of
Danbury, and Tom Delnicki of South Windsor, called upon legislators
of both parties to support a legislative amendment that the
company’s CEO, Chip Bottone, said is “our company, and the economy
that depends on our industry.”
The fuel cell industry currently provides an estimated 2,843
jobs in Connecticut, creates $601 million annually in revenue and
investment, $286 million annually in labor income, and currently
pays $37 to $41 million annually in taxes, all of which have a
significant bearing on Connecticut’s economy and substantial
potential for growth.
The amendment in question, which was filed on Senate Bill 9,
would expand the megawatts available for procurement from 4% of the
state’s load to 6%, thus creating room for fuel cells in the
current DEEP RFP.
FuelCell Energy CEO Chip Bottone said, “First
and foremost, this is a jobs and economic development issue.
Because, in addition to being a source of clean energy, fuel cells
deliver certain unique benefits to Connecticut’s economy – in the
form of jobs created and taxes paid.”
“Despite all of the proactive historical policy, investment and
tangible benefits provided by the fuel cell industry here in
Connecticut, lately there appears to be a policy disconnect. Of the
last four clean energy solicitations undertaken in Connecticut
since 2013, and the 1,041 megawatts of clean energy selected in
those solicitations, not a single fuel cell project was selected.
Not one, despite the fact that those projects were very price
competitive and, arguably better, if the evaluation had included
the undisputable economic development benefits that only fuel cells
provide to this state.”
“We are asking legislators to support the amendment because it
creates additional room for fuel cells to be selected. And we are
calling on DEEP, and urging you all to call on DEEP, to dedicate a
portion of its procurement to fuel cell projects. This will greatly
bolster Connecticut’s home-grown fuel cell industry and provide in
state benefits for Connecticut residents, including tax revenue,
job creation in the high-tech manufacturing sector, enhancement of
local power reliability and resiliency and urban brownfield
redevelopment.”
“To be clear: we are not being critical, nor have we been, of
other clean energy technologies, namely solar and wind. All
we are asking – all we’ve been asking – is to have a seat at the
State’s energy table in a meaningful way.”
State Representative Michelle Cook (D) said,
“FuelCell Energy helps Connecticut meet its clean energy goals and
is an important job provider in Torrington. This is an industry
that our state should be supporting, yet they have repeatedly been
overlooked by DEEP. This impacts not just this industry but
ratepayers throughout the state. I support taking legislative
action to fix this inequity and ensure that consumers and our
environment can benefit from clean fuel cell energy.”
State Representative David Arconti
(D) said, “FuelCell Energy has a track record of
commitment to Connecticut. The company anchors a growth industry
with the potential to transform how we think about generating
electricity. Somehow DEEP has seen fit to favor other forms of
clean energy over fuel cell technology, so it’s up to my colleagues
in the legislature to take action.”
State Senator Craig Miner (R) said,
“Connecticut is the home for the fuel cell industry, of which I am
a strong supporter.”
P.J. Prunty, President and CEO of the Greater Danbury
Chamber of Commerce, said, “FuelCell Energy is
headquartered in Danbury, and has a tremendous impact on the City.
They’ve been here, growing their business for nearly 50 years, and
we look forward to seeing them continue to grow. Now more than
ever, the State needs movement toward good, high paying jobs. This
legislation would be an investment from the state in jobs and
economic development.”
Bryan Garcia, President and CEO of the Connecticut Green
Bank, said, “Connecticut’s leading fuel cell industry is
delivering clean and reliable energy to communities across this
country. Just as important is that our local companies are creating
well-paying manufacturing jobs right here in Connecticut.”
Jeff DeMichiel, president of FCE supply chain company
The Binding Source, said, “FuelCell Energy’s growth in
sustainability is a key driver of new investment in our business
and related businesses in the state of Connecticut.”
Also in attendance were State Representative Bob Godfrey, State
Representative Jonathan Steinberg, President of Connecticut Center
for Advanced Technology (CCAT) Joel Reinbold, and representatives
from supply chain companies including Mark Buntin from Rockwell
Automation.
“At a time when Connecticut is fighting to preserve jobs,
especially high-tech manufacturing jobs, attract young
professionals to locate here, and uncover sources of revenue to
balance the budget, fuel cells are an easy part of the solution.
The General Assembly should pass the proposed language in SB9 and
DEEP should select fuel cell projects in its clean energy
solicitations to ensure that the fuel cell industry flourishes here
in CT while simultaneously providing meaningful contributions to
the environment, energy and economic development which will benefit
the state for decades to come,” added CEO Chip Bottone.
SureSource™ power plants solve energy, environmental and
business-related power generation challenges by providing
ultra-clean, efficient and reliable distributed power
generation. The fuel cells combine a fuel such as renewable
biogas, directed biogas or clean natural gas with oxygen from the
ambient air to efficiently produce ultra-clean electricity and
usable high quality heat via an electrochemical process. Customers
benefit with operating cost reductions delivered in a manner that
supports sustainability goals and enhances power reliability.
With high availability and capacity factors, fuel cell power plants
make meaningful contributions to Renewable Portfolio Standard
targets.
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.
Contact:FuelCell
Energy203.205.2491ir@fce.com
Source: FuelCell Energy
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