FuelCell Energy (NASDAQ:FCEL)
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6 Months : From May 2019 to Nov 2019
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 reaching a significant clean power generation milestone with a total of more than 9 million megawatt hours having been generated by SureSource™ fuel cell power plants globally since the first commercial installation. SureSource™ fuel cells are a clean energy solution for the need for baseload power, as power is made continuously, positioning them as a perfect complement to the intermittent power sources of wind and solar. FuelCell Energy’s SureSource™ plants are currently installed and operating on three continents, with many owned by leading utility and industrial companies. FuelCell Energy is a global leader committed to environmentally responsible power solutions with higher efficiency driving better economics and environmental stewardship while supporting both social responsibility goals and public policy objectives.
“We are proud of the progress we’ve made developing cleaner and more energy efficient electrical power solutions, answering the needs for both utility scale and behind-the-meter applications," said Jennifer Arasimowicz, Interim President & Chief Commercial Officer, FuelCell Energy, Inc. "Our fuel cell solutions provide distinct advantages over other forms of distributed power generation, providing clean baseload power in various configurations, and effective solutions for applications such as microgrids and systems operating on biogas.”
Enabling utilities and independent power producers (IPP) to add ultra-clean, affordable and distributed power generation throughout their service area enhances grid resiliency by easily siting power generation right where the power is needed, such as next to existing electrical substations. SureSource™ plants are especially beneficial for urban and suburban locations where land is either expensive or scarce, given the unmatched power density per square foot versus utility scale solar. For example, in New Haven, Connecticut United Illuminating generates 2.8 megawatts with the SureSource™ 3000 fuel cell on a utility-owned ¼ acre parcel of land next to its substation, avoiding the need for and cost of transmission while enhancing the resiliency of energy supply. Municipalities benefit with clean and quiet power generated locally, and receive property tax revenue from formerly vacant land, while the State receives sales tax.
Behind the-meter, SureSource™ fuel cell solutions support industrial processes generating continuous power and heat to ensure the on-site operations of the facility. Pfizer’s 160-acre research and development center’s mission critical infrastructure is supported with two SureSource™ 3000 fuel cells that generate 5.6 megawatts, increasing resiliency and supporting sustainability objectives that are contributing to the goal of reducing greenhouse gas (GHG) emissions 20% by 2020.
As of today, ten states in the USA 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 and negligible NOx and particulate matter typical of other combustion sources of baseload power. 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 nine million megawatt hours cumulatively generated from SureSource™ fuel cells in comparison to the grid is equivalent to avoiding more than a million tons of CO2 and almost three tons of nitrogen oxides. These are savings equivalent to taking more than 100,000 cars off the road each year.
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.
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