FuelCell Energy Generates Ultra-Clean Power and Delivers Cost Savings to Trinity College
May 22 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 power purchase agreement (PPA) with Trinity College
in Hartford, Connecticut, to install a 1.4 megawatt fuel cell power
plant projected to save the institution approximately 30 percent in
annual energy costs. The combined heat and power (CHP) fuel cell
plant will be located adjacent to the school’s athletic center, and
will generate a continuous supply of on-site electricity and steam
for the campus, serving approximately 2,200 students. With
grid-independent operating capabilities, the fuel cell plant
supports future implementation of a micro-grid for the campus.
FuelCell Energy will provide a turn-key solution including
the installation of the power plant and long term operation and
maintenance. Trinity College will pay for power as it is produced,
avoiding a capital investment in power generation.
“Trinity is committed to enhancing environmental awareness,
responsibility, and sustainability throughout our College community
and this on-site fuel cell power solution is a first step,” said
Dan Hitchell, vice president for finance and operations of Trinity
College.
“We are pleased to be working with Trinity College in delivering
an unobtrusive, quiet power generation solution right on campus
that will advance sustainability goals while strengthening critical
infrastructure and reducing operating costs for the College,” said
Chip Bottone, President and Chief Executive Officer, FuelCell
Energy. “As numerous universities and colleges have demonstrated,
fuel cells are an ideal solution for higher education to enhance
energy resiliency in a clean and affordable manner.”
The 1.4 megawatt fuel cell plant will generate both electricity
and steam from the same unit of fuel, supporting both
sustainability and economics, while achieving overall system
efficiency upwards of 70 percent. The steam produced by the plant
will supply the centralized steam system. Minimizing use of
boilers for steam reduces operating costs for the College as well
as reducing associated emissions from the combustion-based heating
process.
The highly efficient fuel cells utilize electrochemistry for the
generation of electricity, enhancing sustainability by avoiding the
creation of pollutants that burning a fuel generates, and
generating power with a low carbon footprint. The carbon dioxide
(CO₂) reduction achieved by the fuel cell plant will be
approximately 4,100 tons per year as compared to the national grid,
which is equivalent to avoiding the annual greenhouse gas emissions
from approximately 965 passenger vehicles. This clean fuel
cell installation will annually avoid the emission of approximately
8 tons of smog-producing nitrogen oxide (NOx), 10 tons of sulfur
dioxide (SOx) that causes acid rain and more than 2,500 pounds of
particulate matter (PM) that can aggravate asthma.
FuelCell Energy solves power generation challenges, cleanly,
efficiently and affordably, providing:
- Complete turn-key solutions including power purchase agreement
structures that avoid any need for the power user to invest
directly in the power generation 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
- Highly efficient power generation and combined heat and power
configuration minimizes carbon emissions while providing
predictable power
- Enhanced energy resiliency with affordable on-site power
Trinity College (www.trincoll.edu), founded in 1823, is a
liberal arts college on a 100-acre campus in Hartford, Connecticut.
The undergraduate enrollment is approximately 2,200
students.
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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