Morgan Stanley Installs Bloom Energy Fuel Cells at Purchase, NY Facility
November 14 2014 - 8:30AM
Business Wire
The project will provide clean and uninterruptible power for
the 750,000 Sq. Ft. Office Building
At a ribbon-cutting ceremony today, Morgan Stanley unveiled a
new fuel cell system manufactured by Bloom Energy. The system,
which was installed at the firm’s headquarters facility at 2000
Westchester Avenue in Purchase, NY, is now operational and
supplying energy to the building.
The fuel cell system, along with a solar panel field completed
earlier this year, are the latest in a series of initiatives to
improve the facility’s energy efficiency and resiliency.
The Bloom Energy fuel cell system produces electricity without
burning fossil fuels, thus reducing emission of greenhouse gases.
It will supply approximately 250 kilowatts (kW) of constant base
load power to the facility, as well as grid-independent electricity
to power portions of the building’s critical load during grid
outages.
“Environmental sustainability begins at home, and Morgan Stanley
is committed to improving the energy efficiency and resiliency of
all of our facilities,” said Jim Rosenthal, Chief Operating Officer
of Morgan Stanley. “Annual grid consumption at Westchester has
dropped from 29.1 million kWh in 2008 to 23.7 million kWh projected
for 2014. We are proud of the progress we’ve achieved so far and
are excited to incorporate this new technology into our facility in
Westchester.”
“We are excited to bring another Bloom Energy project online in
New York,” said Bill Kurtz, chief financial and commercial officer
at Bloom Energy. “By installing Bloom Energy’s business continuity
solution, Morgan Stanley can protect its critical business
operations from grid events and mitigate the risk of escalating
energy prices.”
The new solid oxide fuel cell system (SOFC) technology converts
fuel into electricity through a highly efficient electrochemical
process, resulting in on-site, clean and reliable power. Combined
with the solar field, these new installations are expected to
produce approximately 3 million kilowatt hours (kWh) of energy a
year. During peak energy consumption times, they can supply
approximately one megawatt, or up to 30 percent of the building’s
demand.
Support for this project was provided by the New York State
Energy Research and Development Authority (NYSERDA). Founded in
1975, NYSERDA is a public benefit corporation that provides
information, services, programs and funding to help New Yorkers
increase energy efficiency, save money, use renewable energy and
reduce reliance on fossil fuels.
About Morgan Stanley
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing investment banking, securities, investment
management and wealth management services. With offices in more
than 43 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For further information about Morgan Stanley, please visit
www.morganstanley.com.
About Bloom Energy
Bloom Energy is a provider of breakthrough solid oxide fuel cell
technology generating clean, highly-efficient on-site power from
multiple fuel sources. The company was founded in 2001 with a
mission to make clean, reliable energy affordable for everyone in
the world. Bloom Energy Servers are currently producing power for
several Fortune 500 companies including Apple, Google, Walmart,
AT&T, eBay, Staples, The Coca-Cola Company, as well as notable
non-profit organizations such as Caltech and Kaiser Permanente. The
company is headquartered in Sunnyvale, CA. For more information,
visit www.bloomenergy.com.
© 2014 Morgan Stanley Smith Barney LLC, member SIPC.
CRC 1055068 11/14
Morgan StanleyMargaret Draper, 914-225-6369Media Relations
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