FuelCell Energy Announces Renewable Power Project to Supply the California Electric Grid
July 05 2017 - 8:30AM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in
delivering clean, innovative and affordable fuel cell solutions for
the supply, recovery and storage of energy, today announced the
execution of a digester gas purchase agreement and site lease
with the City of Tulare, California. The quantity of
renewable biogas contracted is sufficient to support a 2.8 megawatt
SureSource 3000TM fuel cell power plant. The digester gas
agreement enables FuelCell Energy to proceed under the State of
California Bioenergy Market Adjustment Tariff (BioMAT) program to
execute a twenty year power purchase agreement (PPA) with the
electric utility SCE to purchase the renewable and carbon neutral
power for supply to the California electric grid.
“This project will have a very positive impact for the City of
Tulare, as we are selling our waste biogas, generating a new source
of revenue for the City, and supporting emission-free power
generation so our citizens have clean air to breathe,” said Joe
Carlini, City Manager, City of Tulare. “This project
perfectly highlights how sustainability pays.”
“We offer an innovative solution to affordably provide renewable
power at a scale that is meaningful to utilities,” said Chip
Bottone, Chief Executive Officer, FuelCell Energy. “This
application of renewable power and heat generation will result in a
negative carbon footprint to help the utility offset emissions from
their other forms of power generation.”
FuelCell Energy will install, operate and maintain a fuel cell
power plant operating on the City’s biogas, to be located at the
City of Tulare waste water treatment facility. The biogas
will be treated by FuelCell Energy utilizing the SureSource
TreatmentTM biogas conditioning system, and then supplied to the
fuel cell power plant.
The City of Tulare operates a state-of-the art waste water
treatment facility that primarily treats effluent from a number of
large milk processing facilities. Anaerobic digesters are
used to break down the organic waste and prevent harmful methane
emissions as opposed to some waste water treatment processors that
utilize open pools allowing for the escape of methane
emissions. FuelCell Energy is currently installing a
previously announced SureSource 3000 fuel cell power plant to power
the waste water processes and supply heat to the Facility’s
anaerobic digesters.
Over the past decade California’s San Joaquin Valley, one of the
most productive agricultural regions globally, has been in severe
non-attainment under the Federal Clean Air Act. In recent
years, a commitment to emissions reduction has improved the air
quality. FuelCell Energy’s SureSource power plants, which
convert fuel to power electrochemically rather than through
combustion, emit virtually no criteria air pollutants and are
exempt from air permitting.
Cautionary Language This news release
contains forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including, without limitation, statements with respect to
Fuelcell’s expectations regarding energy cost savings, overall
system efficiency, expectation regarding the amount of power
generation and other statements that are not purely statements of
historical fact. These forward-looking statements are made on the
basis of the current beliefs, expectations and assumptions of the
management of FuelCell and are subject to significant risks and
uncertainty. Investors are cautioned not to place undue reliance on
any such forward-looking statements. All such forward-looking
statements speak only as of the date they are made, and FuelCell
undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise.
Although FuelCell believes that the expectations reflected in these
forward-looking statements are reasonable, these statements involve
many risks and uncertainties that may cause actual results to
differ materially from what may be expressed or implied in these
forward-looking statements. For a further discussion of risks
and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as
risks relating to the business of FuelCell in general, see the risk
disclosures in FuelCell’s filings with the Securities and Exchange
Commission.
About FuelCell EnergyFuelCell Energy
(NASDAQ:FCEL) delivers efficient, affordable and clean solutions
for the supply, recovery and storage of energy. We design,
manufacture, undertake project development, install, operate and
maintain megawatt-scale fuel cell systems, serving utilities,
industrial and large municipal power users with solutions that
include both utility-scale and on-site power generation, carbon
capture, local hydrogen production for transportation and industry,
and long duration energy storage. With SureSource™
installations on three continents and millions of megawatt hours of
ultra-clean power produced, FuelCell Energy is a global leader with
environmentally responsible power solutions. Visit us online
at www.fuelcellenergy.com and follow us on Twitter.
SureSource, SureSource 1500, SureSource 3000, SureSource 4000,
SureSource Recovery, SureSource Capture, SureSource Hydrogen,
SureSource Storage, SureSource Service, SureSource Capital,
FuelCell Energy, and FuelCell Energy logo are all trademarks of
FuelCell Energy, Inc.
Source: FuelCell Energy
Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
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