FuelCell Energy Provides Update on Successful Development and Launch of Seven Year Extended Life Stack Modules
January 06 2020 - 8:00AM
FuelCell Energy, Inc. (Nasdaq: FCEL), a global leader in
delivering clean, innovative and affordable fuel cell solutions, is
providing an update on the development and successful launch of
production stack modules with extended life. As previously
reported, the company transitioned production from its five-year
stack design to its seven-year stack design in the fourth quarter
of fiscal year 2018. This transition followed an innovation
effort focusing on improving the stability of the core cell
components as well as improving overall stack and stack module
designs. The seven year carbonate fuel cell stack life
improvement was achieved with less than 5% increase in the cost of
the stack module.
The life extension effort was a key focus of the company’s
Internal R&D efforts delivering on the transition. The
effort was also partially supported by the US Department of Energy
through the Smart Matrix program (Contract Number: DE-EE0006606)
funded by the office of Energy Efficiency and Renewable
Energy. The program included extensive design verification
with accelerated testing of cell components, cells, and stacks in
the company’s Danbury, CT laboratory facilities.
One year prior to the production transition, a prototype 4-stack
module was manufactured and placed in operation at a customer site
as part of the design verification program. The stable
performance of the stacks in that module – along with the
successful completion of various cell and stack test milestones –
verified that transitioning to the new seven year design was a go
for the company.
As of this update, that first prototype module has been
operating for two years, and the first modules built after the
production transition to the seven-year design have been operating
for one year. Monitored parameters such as cell voltages and
temperatures are trending according to seven-year life
expectations.
This extension of stack life is extremely significant in terms
of power plant operating costs. Module restack costs make up
approximately half of power plant non-fuel operating cost. At 90%
capacity factor, a 1.4MW stack module with 5-year life will deliver
55.2 GWh of energy before stack replacement is needed, while a
seven-year module will deliver 77.3 GWh, or 40% more energy, for
nearly the same capital cost - a module lifetime output unmatched
in the fuel cell industry. The life extension effectively
reduces the stack replacement component of operating cost by
approximately 40%.
The successful development and launch of the seven-year stack
module program further highlights the company’s rich innovation
history and focus on continuous improvement to drive value for our
customers and our shareholders. Further stack performance and
life enhancements are expected from internally and externally
funded R&D programs currently in progress at FuelCell
Energy.
Cautionary LanguageThis 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.
Contact: |
FuelCell
Energy203.205.2491ir@fce.comSource: FuelCell
Energy |
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