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Updated: 09:19 AM EST FuelCell Energy's Korean Alliance Partner Announces New Agreement with KEPCO Subsidiary; POSCO Enters into Joint Marketing and Development Venture with Electric Utility to Advance Adoption of Efficient Fuel Cell Technology in Korea
DANBURY, Conn.--(BUSINESS WIRE)----FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of ultra-clean electric power generation plants for commercial and industrial customers, today announced that its Korean strategic alliance distribution partner POSCO has formed a partnership with one of the country's six electric utilities to market and sell fuel cell products for grid support applications.
As part of this arrangement, POSCO will install and operate a 250-kilowatt Direct FuelCell(R) (DFC(R)) power plant from FuelCell Energy at the Bundang plant of Korea-South East Power (KOSEP), located in Gyeonggi province, South Korea. The companies also have agreed to co-develop and market fuel cells as part of an effort to enhance the competitiveness of this ultra-clean energy source in the global market.
KOSEP is a subsidiary of KEPCO, which formerly was the Korean national power company until six subsidiary companies were spun off as part of the country's deregulation of its electric power industry. KOSEP's gross generating capacity last year was 37 terawatt hours of electricity, or 10.2 percent of the country's overall generating capacity. The alliance and sale of the 250-kW power plant was reported in October 23rd editions of the Korea Herald Journal.
KOSEP's parent company, KEPCO, is the largest among nine energy suppliers to have signed an agreement with Korea's Ministry of Commerce, Industry and Energy committing them to develop new energy sources. The nine firms jointly have agreed to invest a combined 1.1 trillion won (approximately $983 million) in developing new energy resources over the next three years.
Utilities are one of FuelCell Energy's targeted vertical markets. The company anticipates that the POSCO-KOSEP partnership will be a positive step for selling its fuel cell products into grid-support applications in the Korean market.
About POSCO
POSCO (http://www.posco.co.kr), founded in 1968, is Korea's largest integrated steelmaker. Headquartered in the southeastern port city of Pohang, South Korea, POSCO produced 29 million tons of crude steel products, and reported record sales of US$12.05 billion and net income of US$1.66 billion in 2003. As the world's leading steel producer, POSCO manufactures and sells a line of steel products, including hot rolled and cold rolled products, plates, wire rods, flat rolled magnetic steel sheets and strips, electrical steel sheets and stainless steel products. POSCO is also rated A3/Moody's and A-/S&P, the highest credit ratings assigned to the world's integrated steelmakers.
About FuelCell Energy
FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of 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 plant sites around the globe that have generated more than 78 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.
Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners. The Company's sub-megawatt DFC fuel cell power plant is a collaborative effort combining its Direct FuelCell technology with a Hot Module(R) balance of plant design from MTU CFC Solutions, GmbH, a subsidiary of DaimlerChrysler.
-------------------- Veni Vidi Vici Posts: 529 | From: CA | Registered: Jan 2005
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More sales! Updated: 09:05 AM EST FuelCell Energy Sells 1.5 Megawatts of Fuel Cell Stacks to European Partner MTU; Six Fuel Cell Stacks to Be Incorporated into Power Plants for Installation Throughout Europe
DANBURY, Conn.--(BUSINESS WIRE)----FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean fuel cell power generation plants for commercial and industrial customers, today announced it has received an order for six fuel cell stacks from its European partner MTU CFC Solutions GmbH, a subsidiary of DaimlerChrysler (NYSE:DCX).
MTU, which in previous years purchased a total of 2.75 megawatts of fuel cell stacks, incorporates FuelCell Energy's high efficiency, low-emissions technology in the HotModule(R) balance of plant design it manufactures for the European market. To date, MTU has installed over a dozen such power plants based on FuelCell Energy's systems for applications such as manufacturing, wastewater treatment, telecommunications, universities, hospitals and electric utilities.
FuelCell Energy will deliver the additional 1.5 megawatts of stacks, consisting of six 250 kilowatt units, in 2006. Financial terms of the sale were not disclosed. Specific customers for the HotModule systems will be announced at later dates.
MTU power plants built around FCE's stacks among others currently in operation include a Michelin tire plant, a Deutsche Telecom telecommunications center and the utility RWE's Energy Park, as well as a major shipbuilding facility in Cartagena, Spain.
About FuelCell Energy
FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of 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 plant sites around the globe that have generated more than 78 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.
Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners. The Company's sub-megawatt DFC fuel cell power plant is a collaborative effort combining its Direct FuelCell technology with a Hot Module(R) balance of plant design from MTU CFC Solutions, GmbH, a subsidiary of DaimlerChrysler.
-------------------- Veni Vidi Vici Posts: 529 | From: CA | Registered: Jan 2005
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FuelCell Energy Partner Commissions Europe's First High Temperature Fuel Cell Wastewater Treatment Power Plant to Operate on Sewage Gas
DANBURY, Conn.--(BUSINESS WIRE)---- FuelCell Energy's Technology Generating Electricity for Wastewater Plant and Grid Distribution; Heat Byproduct Used in Sewage Treatment and to Warm Buildings
FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean power generation plants for commercial and industrial customers, announced today that its European partner MTU CFC Solutions GmbH, a subsidiary of DaimlerChrysler (NYSE:DCX), and RWE Fuel Cells have commissioned a power plant incorporating FuelCell Energy's technology to run a municipal wastewater treatment facility in northeastern Germany.
Plans for the 250-kilowatt facility, first disclosed last year, called for installation of MTU's HotModule(R) power plant. This system combines FCE's efficient and low-emission Direct Fuel Cell(R) (DFC(R)) stacks with MTU's balance of plant design that it manufactures for the European market. Situated at the Municipal Wastewater Treatment Works in Ahlen, Germany, it is the first fuel cell in Europe to operate on anaerobic digester gas.
Using sewage gas produced by the Ahlen facility itself as fuel, the power plant generates electricity to run the wastewater treatment process; any excess power is fed to the grid. The power plant also generates 180 kilowatts of heat byproduct. Ahlen harnesses this energy to operate its digestion tower (where sewage sludge is turned into the gas fuel source), while any remaining thermal energy is used to heat its office and plant buildings there.
The newly operational wastewater treatment plant, one of 10 worldwide in which FuelCell Energy products are involved replaced a combustion engine-driven cogeneration unit.
Industrial and municipal wastewater treatment facilities with anaerobic gas digesters represent an important application of FuelCell Energy's DFC power plants. Methane generated by anaerobic gas digestion is a renewable fuel eligible for government incentive funding for installations around the world. Because fuel in a DFC unit is not burned, it dramatically reduces harmful emissions of gas and particulates while generating firm (24/7) power on site where it is needed.
-------------------- Veni Vidi Vici Posts: 529 | From: CA | Registered: Jan 2005
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