FuelCell Energy Announces Stationary Fuel Cell Power Plant Service Agreement With Switzerland-Based Electric Utility
DANBURY, Conn., Jan. 22, 2013 (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 that FuelCell Energy Solutions, GmbH has entered into a multi-year service agreement for a stationary fuel cell power plant owned by Elektrizitaetswerke Zurich (ewz), an electric utility company in Switzerland. FuelCell Energy Solutions (FCES) will operate and maintain the power plant in close collaboration with ewz and will supervise the plant from a European-based operations center that is staffed 24 hours a day, seven days a week.
ewz is among the largest energy utility companies in Switzerland and is a supplier of electricity for the city of Zurich as well as parts of the canton Graubünden since 1892. As a utility, ewz pursues and is actively involved in the development of new technologies for distributed power generation.
"This fuel cell power plant operating since November 2010 is the first carbonate fuel cell installation utilized in Switzerland," said Marcel Frei, Director, Elektrizitaetswerke Zurich. "We want to be the leading utility in Switzerland with a clear leading position in ecology and energy efficiency. We are demonstrating our strong motivation to invest in new technologies and in new renewable energy with this fuel cell power plant. We are performing an assessment of this carbonate fuel cell power plant to evaluate the electricity and heat output, the operating costs and the integration with the gas network for the fuel supply."
The project employees of ewz are closely involved in the operation and assessment of the stationary fuel cell power plant to study the almost complete lack of emissions by the fuel cells, the high electrical efficiency, and the operational flexibility of the power plant.
"We focus on customer satisfaction and our service agreements allow our customers to concentrate on what they do best while we concentrate on our core expertise of delivering ultra-clean power in an efficient and reliable manner," said Chip Bottone, President and Chief Executive Officer FuelCell Energy, Inc. and Managing Director, FuelCell Energy Solutions GmbH. "The highly efficient and environmentally friendly baseload power generation profile of our plants makes them a good solution for supporting power grids and enabling electric utilities to add power generation in cost effective increments when and where needed."
FCES will service the existing plant including the scheduled replacement of the fuel cell stack during the ten year term of the service agreement.
FCES offers a comprehensive portfolio of services for stationary fuel cell power plants with multi-year service agreements. Highly trained technicians and engineers remotely operate and maintain the fuel cell power plants, 24 hours per day, 365 days per year. Field service technicians provide on-site servicing. These service offerings transfer the plant performance responsibilities to FCES, providing the customers with certainty of costs and power supply.
Fuel cells electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. The stationary fuel cell power plants manufactured and sold by FCES are fuel flexible, capable of operating on natural gas or renewable biogas. The power plants provide continuous baseload power and can be sited where the power is used, including both on-site applications and electric grid support. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of these stationary fuel cell power plants facilitates their siting in urban locations.
FCES, with its German manufacturing base, is the sales, manufacturing and service business for the European Served Area for FuelCell Energy, Inc.
About FuelCell Energy Solutions, GmbH
FuelCell Energy Solutions develops, manufactures, sells, installs, services and operate stationary fuel cell power plants that efficiently and economically generate electricity and usable high quality heat. Administrative offices are located in Dresden, Germany and manufacturing operations are located in Ottobrunn, Germany. Continuous power generated at the point of use with the virtual absence of pollutants supports energy security and power reliability as well as sustainability initiatives. Ultra-Clean baseload distributed generation is attractive to electric utilities, universities, hospitals, government facilities, industrial operations and other locations with significant power needs. Direct FuelCell® (DFC®) power plants are fuel flexible, capable of operating on clean natural gas or renewable biogas. For more information please visit our website at www.fces.de
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About FuelCell Energy, Inc.
Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company's power plants have generated more than 1.5 billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information please visit our website at www.fuelcellenergy.com
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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.
CONTACT: FuelCell Energy, Inc. Kurt Goddard, Vice President Investor Relations 203-830-7494 email@example.com