Danbury, CT - July 27, 2010 - FuelCell Energy, Inc. (NASDAQ: FCEL) a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers, today announced the sale of a 300 kilowatt DFC300 fuel cell power plant and five year service contract. LOGANEnergy, a dedicated fuel cell energy services company, will purchase and install the fuel cell power plant at the frozen food processing facility of Carla's Pasta, Inc. in South Windsor, CT.
Carla's Pasta, Inc. has been providing quality frozen pasta and pesto products for 29 years. Customers of Carla's Pasta, Inc. can expect quality, first and foremost, quickly followed by customer service and sales support. As a frozen food processor that is dependent on 24/7 reliable power, the distributed generation aspect of fuel cells was appealing to the owners of Carla's Pasta, Inc. Electrical power is generated at the point of use which provides increased reliability, power quality and energy security.
"We operate our frozen pasta and pesto plant 24 hours per day and were attracted by the fuel cell power plant's reliability and energy security as it generates power right on our property," said Sergio Squatrito, Vice President, Operations, Carla's Pasta, Inc. "The high efficiency of the fuel cell power plant decreases our fuel and electrical costs, and lowers our carbon footprint. Our environmental stewardship is further enhanced with the installation of these fuel cells as the energy generation process emits virtually zero harmful pollutants."
The fuel cell power plant is expected to provide 60 percent of the energy needs of the recently expanded Carla's Pasta, Inc. facility. The fuel cell power plant will generate ultra-clean base load electricity and will be configured to recover the byproduct heat from the fuel cell energy conversion process. The byproduct heat will be used for facility heating and heating hot water for the production process and general facility needs. This combined heat and power (CHP) configuration can achieve up to 80% efficiency, which is more than twice as efficient as power delivered via the transmission grid. The power plant is expected to be operational by mid 2011.
Sam Logan, Jr., CEO LOGANEnergy, commented, "We are providing a fully functional turn-key fuel cell power plant for our customer, Carla's Pasta, Inc. Partnering with FuelCell Energy allows us to offer our customers economical power generation that is highly efficient, environmentally friendly and reliable."
The purchase of this fuel cell power plant was partially funded by a $750,000 grant from the Connecticut Clean Energy Fund (CCEF). The CCEF, created in 2000 by the Connecticut Legislature, promotes, develops, and invests in clean energy sources for the benefit of Connecticut ratepayers.
"This installation illustrates the success of public and private partnerships that work together to provide reliable clean energy solutions for manufacturing employers based in Connecticut such as Carla's Pasta, Inc.," said Richard Shaw, Director Business Development FuelCell Energy, Inc. "The grant from the Connecticut Clean Energy Fund is another example of the support for fuel cells in the State of Connecticut, helping to move the State to the forefront of clean power generation."
LOGANEnergy is a dedicated fuel cell energy service company, specializing in designing and developing fuel cell projects. Founded in 1993, LOGANEnergy's worldwide portfolio exceeds 11 megawatts of fuel cell capacity with more than 150 installations at 100 sites.
About FuelCell Energy
DFC® fuel cells are generating power at over 50 locations worldwide. The Company's power plants have generated over 500 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The Company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com
This news release contains forward-looking statements, including 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, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, 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.
Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations