FuelCell Energy Announces Operations Commencement and Funding of a Wastewater Power Project Including Renewable Biogas Proces...
September 07 2016 - 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
completion of construction and commercial operation of a
megawatt-class fuel cell power plant at the Riverside Regional
Water Quality Control Plant in Riverside, California. The
project is structured so that the City of Riverside pays for power
produced achieving immediate operating cost savings without any
capital outlay and in a manner that supports the City’s
sustainability goals.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/f62fd53f-4e0b-4e5c-b1fa-751580453349
The water treatment process at the Riverside Regional Water
Quality Control Plant generates methane, a greenhouse gas.
Through the use of anaerobic digesters, the Water Quality Plant
captures the methane, which FuelCell Energy then cleans and
uses it as the fuel source to generate carbon-neutral power for the
wastewater treatment process as well as heat needed by the
anaerobic digesters.
“In renewable biogas applications, such as this project, the
biogas must be cleaned before being directed into the fuel cells,
which is a separate system that requires maintenance and financing
and previously, our customers needed to obtain separately from the
fuel cell power plant,” said Tony Rauseo, Senior Vice President and
Chief Operating Officer, FuelCell Energy, Inc. “We leveraged our
decades of wastewater industry experience and comprehensive
engineering and design capabilities to manufacture our own gas
clean-up system to not only ensure the quality of the clean-up, but
to take responsibility for the entire solution for our customer and
offer a complete and affordable power generation solution.”
The Riverside wastewater treatment facility can process
approximately 40 million gallons of wastewater per day with
around-the-clock operations. The continuous power profile of the
fuel cells supports the treatment process, utilizing approximately
two thirds of the biogas generated to provide about one third of
the power needs for the facility.
Concurrent with the achievement of commercial operations,
FuelCell Energy’s direct subsidiary closed on financing with PNC
Energy Capital (“PNC”) through a sale lease-back transaction. The
Riverside fuel cell project is the second fuel cell project to be
financed under the financing facility with PNC. The power purchase
agreement structure that is supported by this financing enabled the
City of Riverside to avoid an upfront investment in the power
generation equipment and, instead, purchase power as it is produced
by the project.
“FuelCell Energy developed this project and it
retains ultimate ownership of the power purchase agreement,
generating monthly revenue from the sale of power to the City of
Riverside,” said Michael Bishop, Senior Vice President and Chief
Financial Officer, FuelCell Energy Inc. “This pay-as-you-go
approach is valued by the marketplace and our access to capital
such as the PNC Energy Capital facility enables us to meet the
needs of our customers.”
FuelCell Energy converts wastewater emission disposal problems
into cost savings for municipal water treatment facilities,
providing:
- Complete turn-key wastewater solution for cleaning the biogas,
generating ultra-clean power and heat, and operating and
maintaining the gas clean-up system and the fuel cell power
plant
- Power purchase agreement structures that avoid any need for the
municipality to invest directly in the power generation or gas
clean-up equipment
- Avoidance of clean air permitting challenges as fuel cells
utilize an electrochemical process that produces power in a manner
that is virtually absent of criteria pollutants such as nitrogen
oxide (NOx) that causes smog, sulfur dioxide (SOx) that contributes
to acid rain, or particulate matter that can aggravate asthma
- Enhanced energy resiliency with affordable on-site power
About FuelCell EnergyDirect FuelCell® power
plants are generating ultra-clean, efficient and reliable power on
three continents, affordably providing continuous distributed power
generation to a variety of industries including utilities,
commercial and municipal customers. The Company’s power
plants have generated billions of kilowatt hours of ultra-clean
power using a wide variety of fuels including renewable biogas from
wastewater treatment and food processing, as well as clean natural
gas. For additional information, please visit
www.fuelcellenergy.com and follow us on Twitter.
Direct FuelCell, DFC, DFC/T, DFC-H2, DFC-ERG and FuelCell Energy
logo are all registered trademarks of FuelCell Energy, Inc.
Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
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