FuelCell Energy Joins Partner POSCO Energy for Dedication of Another Multi-Megawatt Fuel Cell Park in South Korea
March 20 2017 - 8:37AM
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, announces the
dedication of the 20 megawatt Noeul Green Energy Co. fuel cell park
in Seoul, South Korea. Constructed by South Korean partner
POSCO Energy, the fuel cell park supplies ultra-clean power to the
electric grid and high quality heat to a district heating
system. FuelCell Energy executive management, including
President and Chief Executive Officer Chip Bottone joined POSCO
Energy executives, Government officials and customers to celebrate
the operation of this fuel cell park, which was constructed in just
10 months.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/eb637c79-3513-4636-a61f-377510571699http://www.globenewswire.com/NewsRoom/AttachmentNg/41d63443-ccbc-4cf6-86cd-b8cb359ccbb7
“This project exemplifies the benefits of fuel cell
installations by locating the project in the middle of Seoul City,
which enhances grid resiliency as well as supporting environmental
initiatives,” said Chip Bottone, President and Chief Executive
Officer, FuelCell Energy. “This fuel cell park occupies less than
two acres of land and benefits Seoul by generating enough power for
approximately 43,000 Korean households and heat for approximately
9,000 households. That is a significant supply of energy produced
from a very compact footprint, and its generating power in an
environmentally-friendly manner benefiting South Korea’s air
quality.”
The project majority shareholder is Korea Hydro & Nuclear
Power (KHNP), a repeat customer of the POSCO Energy fuel cell
division and the largest utility in South Korea. The
ultra-clean power produced by the fuel cells is sold to KPX (Korea
Power Exchange). The high-quality heat generated by the fuel
cell park is sold to Korea District Heating Co., the largest heat
supplier in South Korea.
This fuel cell park is one of the many utility-scale fuel cell
parks operating in South Korea, including the world’s largest,
which generates 59 megawatts of ultra clean power for the electric
grid and high-grade heat for a district heating system. The
59 megawatt project was completed in only 14 months.
Fuel cells use chemistry to convert a fuel source into
electricity and heat in a highly efficient process that emits
virtually no pollutants as the fuel is not burned. The combination
of near-zero pollutants, modest land-use needs, and quiet operating
nature of these stationary fuel cell power plants facilitates
installation in urban locations where the power is used.
Customers benefit with operating cost reductions delivered in a
manner that supports sustainability goals and enhances power
reliability. With high availability and capacity factors,
SureSource power plants make meaningful contributions to Renewable
Portfolio Standard targets.
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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