FuelCell Energy Announces Highly Efficient and Environmentally Friendly Fuel Cell Power Plant Installation at the University ...
May 01 2014 - 8:30AM
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, announced the development of a
project to install a 1.4 megawatt (MW) fuel cell power plant at the
University of Bridgeport that will supply approximately 80 percent
of the campus power needs. On-site power generation provides
energy security and power reliability to the University operations
as the fuel cell power plant will operate as a micro-grid, capable
of operating independently from the electric grid. The
ultra-clean emission profile of the fuel cell power generation
advances the sustainability goals of the University. FuelCell
Energy will install, operate and maintain the plant, which is
expected to be operational by the end of 2014. The University
of Bridgeport, a private institution with total enrollment of about
4,800 students and located in Bridgeport, Connecticut, will
purchase the electricity and heat under a multi-year power purchase
agreement.
"Sustainable and affordable energy is an increasingly important
component of the new energy mix at the University of Bridgeport,"
said Neil Albert Salonen, President, University of Bridgeport. "Our
Renewable Energy Research Lab evaluates technologies in energy
conversion, utilization and storage in fuel cells, solar, wind, and
hybrid systems. This lab is motivated by the strong need to prepare
the next generation of inter-disciplinary engineers with a
comprehensive background in sustainable energy and this fuel cell
installation will help us achieve our goals by enabling us to
practice what we teach."
"We are pleased to be providing the University of Bridgeport
with an on-site power generation solution that meets their
financial returns and sustainability goals and enhances campus
energy security," said Chip Bottone, President and Chief Executive
Officer, FuelCell Energy, Inc. "Universities are ideal candidates
for our ultra-clean and efficient fuel cell power plants due to
their power usage profile that requires baseload power, desire
for sustainable power generation, need for energy security, and
demand for reliability that on-site power generation provides."
The University will benefit from the plant's combined heat and
power (CHP) capabilities as the same unit of fuel generates both
ultra-clean power and usable high quality heat. By reducing
usage of combustion based boilers for heat, the University will
enjoy cost savings and a reduction in pollutants and CO2 emissions
from the existing boiler. The heat will be used to generate
hot water for heating the University recreation center, a dormitory
and campus apartments. The project enhances the campus
micro-grid with capital improvements to the University power
infrastructure and the ability of the fuel cell power plant to
continue to provide power to the campus should the utility grid
experience an extended outage.
Since the fuel cell power plant generates power without
combustion, its exhaust is virtually pollution-free. Compared
to the electric grid, the fuel cell installation will annually
avoid the emission of 28 tons of smog-producing nitrogen oxide
(NOx), 64 tons of sulfur dioxide (SOx) that causes acid rain, 3000
pounds of particulate matter (PM10) that can aggravate asthma, and
more than 7,000 tons of CO2, a greenhouse gas, which is equivalent
to removing more than 1,000 cars from the road.
This project is part of the state of Connecticut's Low-emission
Renewable Energy Credit (LREC) program that supports the adoption
of environmentally friendly and affordable distributed power
generation and reinforces State and local level energy policies and
goals. Participants receive renewable energy credit payments
for each megawatt hour of power produced due to the high efficiency
and the virtual lack of pollutants from a fuel cell power
plant.
FuelCell Energy is undertaking this project development and
expects to close on permanent financing on or before the commercial
operation date of the power plant. The University of
Bridgeport has entered into a multi-year power purchase agreement
to buy the electricity and heat produced by the fuel cell power
plant.
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
Direct FuelCell® (DFC®) stationary fuel cell power plants
manufactured by FuelCell Energy 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 stationary fuel
cell 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.
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 two 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
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