FuelCell Energy Announces German Government Support for Advancement of Clean and Efficient Fuel Cells With 4.9 Million Euros ...
July 22 2014 - 7:00AM
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 its affiliate
FuelCell Energy Solutions, GmbH (FCES) has received nearly €5
million in awards by Germany's Federal Ministry for Economic
Affairs and Energy to support a three year research and development
project between FCES and joint venture partner Fraunhofer IKTS. The
project targets further enhancements to the Direct FuelCell® (DFC®)
technology by increasing power density and operating life of the
fuel cells, leading to lower costs. The research is being performed
in Germany by FCES at an existing facility in Ottobrunn and by
Fraunhofer IKTS at a facility located in Dresden.
"Fraunhofer IKTS continues to undertake fuel cell research in
recognition that the attributes of high efficiency, virtual lack of
emissions, low carbon output, and ability to easily site fuel cell
plants in populated areas can help address the power generation
challenges facing Germany and many other European countries," said
Prof. Dr. Alexander Michaelis, Director of Fraunhofer IKTS. "The
awards from the Federal Ministry for Economic Affairs and Energy
will help expand Germany's existing fuel cell knowledge and assist
in advancing the technology towards greater adoption that should
support economic development in Germany."
"With the support of various government organizations, strategic
partners and private industry, product, performance and system
enhancements continue on our proprietary fuel cell technology and
are now being performed on three continents; validating the global
interest in our power and hydrogen generation solutions that
enhance the resiliency of power distribution in an ultra-clean and
affordable manner," said Chip Bottone, President and Chief
Executive Officer of FuelCell Energy, Inc. and Managing Director of
FuelCell Energy Solutions GmbH. "We utilize a common global
technology platform so enhancements developed under these awards
can support global markets further strengthening the attractiveness
of our product offerings."
The research and development program aims to enhance the DFC®
fuel cell performance by increasing the power output of the fuel
cell stack, making the fuel cell power plants even more affordable
based on increased power output from the fuel cells and extended
operating life for the fuel cell stack. With growing adoption
supported by this research program, enhancement of the fuel cell
manufacturing in Germany is expected to follow, leading to job
creation from manufacturing and the associated supply chain
multiplier effect.
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. Direct
FuelCell® (DFC®) stationary power plants utilize carbonate fuel
cell technology and provide continuous baseload power located 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 power plants
facilitates locating the power plants in urban locations. The power
plants are fuel flexible, capable of operating on natural gas,
on-site renewable biogas, or directed biogas.
FCES, with its German manufacturing base, is the sales,
manufacturing and service business for the European Served Area for
FuelCell Energy, Inc. FCES is a joint venture between Fraunhofer
IKTS and FuelCell Energy, Inc.
Founded in 1949, Fraunhofer is Europe's largest
application-oriented research organization with an annual research
budget of €1.8 billion (approximately $2.3 billion) and more than
18,000 staff, primarily scientists and engineers. Fraunhofer has
research centers and representative offices in Europe, USA, Asia
and the Middle East, and more than 80 research units, including 60
Fraunhofer Institutes, at different locations in Germany. The
Fraunhofer IKTS with its staff of 620 highly educated engineers,
scientists and technicians is a world leading institute in the
field of advanced ceramics for high-tech applications. The primary
markets for Fraunhofer IKTS include energy and environmental
technology with a focus on fuel cell development and
commercialization. Website: www.ikts.fraunhofer.de/en.html.
About FuelCell Energy
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 1.7
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 www.fuelcellenergy.com
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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
ir@fce.com
Fraunhofer IKTS
Katrin Schwarz
+49 2553 7720
katrin.schwarz@ikts.fraunhofer.de
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