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, today announced with
Exxon Mobil Corporation (NYSE:XOM), an agreement to pursue novel
technology in power plant carbon dioxide capture through a new
application of carbonate fuel cells, which could substantially
reduce costs and lead to a more economical pathway toward
large-scale application globally.
“Advancing economic and sustainable technologies to capture
carbon dioxide from large emitters such as power plants is an
important part of ExxonMobil’s suite of research into
lower-emissions solutions to mitigate the risk of climate change,”
said Vijay Swarup, vice president for research and development at
ExxonMobil Research & Engineering Company. “Our scientists saw
the potential for this exciting technology for use at natural gas
power plants to enhance the viability of carbon capture and
sequestration while at the same time generating additional
electricity. We sought the industry leaders in carbonate fuel-cell
technology to test its application in pilot stages to help confirm
what our researchers saw in the lab over the last two years.”
Chip Bottone, president and chief executive officer of FuelCell
Energy, Inc., said his company is pleased to bring its global
leadership in the development of carbonate fuel cells to this
project.
“Carbon capture with carbonate fuel cells is a potential
game-changer for affordably and efficiently concentrating carbon
dioxide for large-scale gas and coal-fired power plants,” Bottone
said. “Ultra-clean and efficient power generation is a key
attribute of fuel cells and the carbon capture configuration has
the added benefit of eliminating approximately 70 percent of the
smog-producing nitrogen oxide generated by the combustion process
of these large-scale power plants.”
Two years of comprehensive laboratory tests have demonstrated
that the unique integration of two existing technologies –
carbonate fuel cells and natural gas-fired power generation –
captures carbon dioxide more efficiently than existing scrubber
conventional capture technology. The potential breakthrough comes
from an increase in electrical output using the fuel cells, which
generate power, compared to a nearly equivalent decrease in
electricity using conventional technology.
The resulting net benefit has the potential to substantially
reduce costs associated with carbon capture for natural gas-fired
power generation, compared to the expected costs associated with
conventional separation technology. A key component of the research
will be to validate initial projected savings of up to
one-third.
The scope of the agreement between ExxonMobil and FuelCell
Energy will initially focus for about one to two years on how to
further increase efficiency in separating and concentrating carbon
dioxide from the exhaust of natural gas-fueled power turbines.
Depending on reaching several milestones, the second phase will
more comprehensively test the technology for another one to two
years in a small-scale pilot project prior to integration at a
larger-scale pilot facility.
ExxonMobil is a leader in carbon capture and sequestration and
has extensive experience in all of the component technologies of
carbon capture and storage, including participation in several
carbon dioxide injection projects over the last three decades. In
2015, ExxonMobil captured 6.9 million metric tons of carbon dioxide
for sequestration – the equivalent of eliminating the annual
greenhouse gas emissions of more than 1 million passenger
vehicles.
“We are continually researching technologies that have an
ability to reduce carbon dioxide emissions,” Swarup said. “Most
solutions that can make an impact of the scale that is required are
not found overnight. Our research with FuelCell Energy will be
conducted methodically to ensure that all paths toward viability
are explored.”
Using fuel cells to capture carbon dioxide from power plants
results in reduced emissions and increased power generation. In the
carbon capture context, power plant exhaust is directed to the fuel
cell, replacing air that is normally used in combination with
natural gas during the fuel cell power generation process. As the
fuel cell generates power, the carbon dioxide becomes more
concentrated, allowing it to be more easily and affordably captured
from the cell’s exhaust and stored.
About ExxonMobil ExxonMobil, the largest
publicly traded international oil and gas company, uses technology
and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is
among the largest refiners and marketers of petroleum products and
its chemical company is one of the largest in the world. For more
information, visit www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future events or conditions
in this release are forward-looking statements. Actual future
results, including project plans and timing and the impact of new
technologies, could vary depending on the outcome of further
research and testing; the development and competitiveness of
alternative technologies; the ability to scale pilot projects on a
cost-effective basis; political and regulatory developments; and
other factors discussed in this release and under the heading
“Factors Affecting Future Results” on the Investors page of
ExxonMobil’s website at exxonmobil.com.
About FuelCell EnergyDirect FuelCell® power
plants are generating ultra-clean, efficient and reliable power at
more than 50 locations worldwide. With more than 300
megawatts of power generation capacity installed, ready for
installation, or in backlog, FuelCell Energy is a global leader in
providing ultra-clean baseload distributed generation to utilities,
industrial operations, universities, municipal water treatment
facilities, government installations and other customers around the
world. The Company’s power plants have generated over four
billion kilowatt hours of ultra-clean power using a 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, follow
us on Twitter and view our videos on YouTube.
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
the Company’s anticipated financial results and statements
regarding the Company’s plans and expectations regarding the
continuing development, commercialization and financing of its fuel
cell technology and business plans. All forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, changes
to projected deliveries and order flow, changes to production rate
and product costs, general risks associated with product
development, manufacturing, changes in the regulatory environment,
customer strategies, unanticipated manufacturing issues that impact
power plant performance, changes in critical accounting policies,
potential volatility of energy prices, rapid technological change,
competition, and the Company’s ability to achieve its sales plans
and cost reduction targets, as well as other risks set forth in the
Company’s filings with the Securities and Exchange Commission. The
forward-looking statements contained herein speak only as of the
date of this press release. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any such statement to reflect any change in the
Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based.
Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc.
are all registered trademarks of FuelCell Energy, Inc.
DFC-ERG is a registered trademark jointly owned by Enbridge, Inc.
and FuelCell Energy, Inc.
FuelCell Energy: Media
Rob Skinner, Director of Media Strategy, MSL Group
781-684-0770
fce@mslgroup.com
FuelCell Energy: Investors
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com
ExxonMobil: Media
(972) 444-1107
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