DANBURY, Conn., Sept. 06, 2016 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in the design, manufacture, operation and service of ultra‐clean, efficient and reliable fuel cell power plants, today announced the development of a utility scale power project to showcase industry leading electrical efficiency that enables utilities to affordably and cleanly solve power generation challenges in land-constrained areas. Construction will begin within weeks for a 3.7 megawatt fuel cell power plant at a location in Danbury, Connecticut, following recent approval by the Connecticut Siting Council.
"This fuel cell solution is a breakthrough in transforming power generation networks to a cleaner, more affordable and capital efficient model that meets the needs of global economies today," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc.
"We are enhancing the electrical efficiency of this fuel cell power plant by configuring the fuel cell modules in a series to utilize the fuel to the greatest degree possible," said Tony Rauseo, Senior Vice President and Chief Operating Officer, FuelCell Energy, Inc. "This is a really innovative design targeting utility and data center applications."
"Our business model of locating clean and affordable power near where the power is used acts to spur urban redevelopment by enhancing local infrastructure and generating property and sales tax revenue for municipal and state governments to a degree that other clean distributed power generation projects have difficult matching," said Michael Bishop, Senior Vice President and Chief Financial Officer, FuelCell Energy, Inc. "The high availability of fuel cells drives significant renewable energy credit generation supporting both project economics and state-level renewable power standards."
The standard 2.8 megawatt DFC3000® power plant utilizes two fuel cell modules operating in parallel. This 3.7 megawatt configuration adds a third module that utilizes unused fuel from the other two fuel cell modules as well as heat, along with some natural gas input to economically and efficiently produce additional power. The 3.7 megawatt power plant, adequate to power approximately 3,700 average size homes, will occupy only about 10,000 square feet, or only a ¼ of an acre, of an industrial lot near an existing electrical substation. FuelCell Energy has executed a long term lease for the land and expects to sell the power to the local utility, supplying the power to a nearby electrical substation. The Company will explore opportunities to sell the project after commissioning.
Multi-megawatt fuel cell installations solve power generation challenges as the combination of near-zero pollutants, modest land-use needs, and the quiet operating nature of fuel cell power plants facilitates their siting in urban locations. Fuel cell power plants offer a multitude of advantages for utilities and neighboring communities, including:
About FuelCell Energy
Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power on three continents, affordably providing continuous distributed power generation to a variety of industries including utilities, commercial and municipal customers. The Company's power plants have generated billions of kilowatt hours of ultra-clean power using a wide variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For additional information, please visit www.fuelcellenergy.com and follow us on Twitter.
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Contact: FuelCell Energy, Inc. Kurt Goddard, Vice President Investor Relations 203-830-7494 firstname.lastname@example.org