Industry: Power Generation & Storage Sector: INDUSTRIAL
FuelCell Energy engages in fuelish pursuits. The company develops electrochemical technologies such as carbonate fuel cells and electrochemical engines that generate electricity without combustion. FuelCell Energy's Direct FuelCell (DFC) does not need an external hydrogen supply and can be fed fuel directly without an external reactor; the equipment can be fired up with biogas, coal gas, coal-mine methane, diesel, methanol, natural gas, or propane. The company has operated a fuel cell power plant for the Los Angeles Department of Water and Power since 2001. FuelCell Energy operates more than 20 DFC power plants for customers in the US, Europe, and Japan.
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Good news, but the PPS did not reflect it?? I guess they either have to make a huge advancement in R&D or the Goven't has to dump even a larger am't of cash.
Updated:2006-02-01 09:51:11 FuelCell Picked for DoE Fuel Cell Project AP DANBURY, Conn. (AP) - Fuel cell power plant manufacturer FuelCell Energy Inc. said on Wednesday it was selected by the Department of Energy to work on a five-year, $2.1 million cost-shared project.
As part of the project, FuelCell will help develop a high temperature membrane for low humidity operation of Polymer Electrolyte Membrane, or PEM, fuel cells. Traditional PEM fuel cells operate at roughly 60 degrees celsius to 80 degrees celsius; operating at higher temperatures reduces cost and improves efficiency.
FuelCell said the project is part of a larger $119 million government program, announced on Jan. 24, through which the Department of Energy is expected to provide $100 million over four years for projects related to the improvement of fuel cell membranes, as well as a variety of other research areas. The company said it was one of 12 project bids that will receive, in total, $19 million in federal funding.
The announcement comes fresh on the heels of Wednesday night's State of the Union address, in which President Bush called for the exploration of alternative energy sources, including hydgrogen-fueled cars, to reduce the nation's dependence on oil.
Shares of FuelCell, which have traded between $7.05 and $12.25 over the last year, were up 24 cents, or 2.2 percent, at $11.05 in morning trading on the Nasdaq
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Treasury Secretary John Snow to Visit FuelCell Energy to Discuss Innovation and U.S. Energy Initiative BUSINESS WIRE DANBURY, Conn.--(BUSINESS WIRE)----FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of high efficiency, ultra-clean electric power plants for commercial and industrial customers, today announced that U.S. Treasury Secretary John W. Snow will chair a roundtable discussion about the Administration's energy initiative at the company's headquarters in Danbury.
The event is open to credentialed media (please RSVP to Steven Eschbach, 203-825-6000, seschbach*fce.com). WHO U. S. Treasury Secretary John W. Snow WHAT Innovation and energy roundtable; tour of working fuel cell power plants WHEN Wednesday, February 22, 9:30 a.m. (EDT) WHERE FuelCell Energy, 3 Great Pasture Road, Danbury, Conn. 06813
About FuelCell Energy
FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity and heat with higher efficiency than conventional fossil fuel plants and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 40 power generation sites around the globe that have produced more than 80 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world's ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com.
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NEW YORK (MarketWatch) -- FuelCell Energy (FCEL : fuelcell energy inc com
FCEL11.28, +0.69, +6.5%) said it won a 10-year contract worth about $85 million from the U.S. Department of Energy to develop a coal-based fuel cell system. The objective is to develop a 100-megawatt or larger power system that improves the overall efficiency in converting energy contained in coal to electrical power to at least 50% from the current average of about 35%. The stock closed Friday up 35 cents at $10.59.
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FuelCell Gets Government Contract AP DANBURY, Conn. (AP) - Shares of FuelCell Energy Inc. surged on Monday after the fuel cell-based power plant developer said it won an $85 million contract from the U.S. government to help develop an energy-efficient power plant.
The company's stock rose 69 cents or 6.5 percent to $11.28, on more than double its average daily volume during afternoon trading on the Nasdaq.
FuelCell said it will help develop a system for a coal-based power plant over a 10-year, three-phase program for the Department of Energy.
The goal of the program, according to the company, is to produce a plant that converts energy contained in coal to electrical power with at least 50 percent overall efficiency. FuelCell has calculated that current coal-based plants have an average efficiency rate of about 35 percent.
"Coal technology development is a keystone of the President's new Advanced Energy Initiative," said Wayne Surdoval, the technology manager for the DOE's national energy technology laboratory's solid state energy conversion alliance.
FuelCell said the first phase of the project will be a three-year, $10.5 million program focusing on design, cost analysis and testing of the system.
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FuelCell Energy, Inc. Invites You to Hear First Quarter Results and Company Update on Its Web Broadcast Conference Call on Tuesday, March 7, 2006, at 10:00 a.m. EST BUSINESS WIRE DANBURY, Conn.--(BUSINESS WIRE)----FuelCell Energy (NasdaqNM:FCEL) will hold its quarterly conference call to discuss first quarter results and company update on Tuesday, March 7, 2006, at 10:00 a.m. Eastern Standard Time.
This call is being webcast by Thomson/CCBN and can be accessed at FuelCell Energy's web site at www.fce.com
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