FuelCell Energy, Inc. (Nasdaq: FCEL) today announced a
collaboration agreement with E.ON Business Solutions, a German
company specializing in integrated energy solutions for customers
in the commercial, industrial and public sectors. FuelCell Energy
is a global leader in fuel cell solutions for the affordable
non-combustion based supply of base-load energy. As part of the
global energy firm E.ON, E.ON Business Solutions provides tailored
solutions for energy efficiency, decentralized power generation,
flexibility, virtual power plants, and battery power storage.
Operating on natural gas, energy generated by FuelCell Energy
plants is delivered with negligible criteria pollutants (PM, NOx,
SOx) and low CO2 due to the efficiency of the system. Also fully
capable of running on biogas, our systems can deliver zero CO2
energy. In applications such as wastewater treatment plants, the
fuel is 100% renewable, and using the fuel in a fuel cell avoids
the criteria pollutants emitted by flaring the gas or
combustion-based power plants. FuelCell Energy’s plants not only
can efficiently and affordably supply clean, continuous power, but
also useable steam, heat, and hydrogen to our customers. FuelCell
Energy announced in July 2019 the relaunch of its sub-megawatt
class fuel cell solutions for Europe, the SureSource 250 and
SureSource 400, in addition to its multi-megawatt SureSource
systems.
“We are excited to partner with E.ON for the continued
advancement of our fuel cell multi-featured platform in Europe,”
commented Jason Few, President and Chief Executive Officer of
FuelCell Energy. “E.ON owns two of our existing power plant
projects already. Our solution is a perfect fit for a number of
needs throughout Europe, offering both distributed cost-effective
energy for sub-megawatt applications, and large scale
multi-megawatt continuous clean power for industrial and
utility-scale applications. With this collaboration, together, we
will be able to offer customers across Europe flexible financial
solutions ranging from power purchase agreements, capital leases,
and attractive purchase options with the full support of E.ON. With
E.ON, FuelCell has a partner who understands both the value and
environmental benefits of our solution, is excited about owning
future projects, adding our fuel cell leading multi-function energy
platform to its direct customer offering and diversifying and
advancing its clean energy portfolio.”
E.ON currently owns two fuel cell plants in Germany, a 1.4
Megawatt plant (SureSource 1500) located at the German headquarters
and production facility of FRIATEC AG in Mannheim, and one 0.4
Megawatt (SureSource 400) plant located at the Radisson Blu Hotel
in Frankfurt. In Germany, SureSource systems receive a 60%
reduction on the EEG (“Erneuerbare-Energien-Gesetz“) levy.
SureSource systems are a viable solution for European regions and
cities to reduce their emissions and realize their green energy
transition.
Mr. Few continued, “We have seen a significant increase in
demand for clean, alternate baseload power solutions throughout
Europe recently. Pollution in the form of NOx, SOx, and particulate
matter generated from traditional combustion-based solutions also
is an increasing issue, especially in highly populated areas.
Customers who rely on power, such as industry, hospitals, hotels,
and data centers, all have reacted extremely favorably to our
announcement a couple of months ago.” Both Mr. Few and Anthony
Ainsworth, Chief Executive Officer E.ON Business Solutions, stated
their excitement to work jointly with both local and global
customers across Europe.
“E.ON is one of the few companies in the world with experience
in the construction and operation of megawatt-class fuel cell
plants. We can offer this technology as an important building block
in our B2B solution portfolio. The industry is showing great
interest in the fuel cell in order to make the power supply not
only more climate friendly, but even almost zero nitrogen oxide and
fine dust free. We are convinced that this clean technology can be
widely used and see FuelCell Energy as an important partner for our
strategy,” says Anthony Ainsworth, CEO of E.ON Business
Solutions.
Rising government initiatives and motivation under a new
renewable heat incentive policy intended to increase the amount of
energy generated from renewable sources are key drivers in Europe,
one of the fastest growing regions in the fuel cell technology
market. Importantly, all SureSource systems can run directly on
biogas delivering a zero carbon solution in addition to zero
particulates, NOx, and SOx. For example, wastewater treatment
plants (WWTPs) that generate anaerobic digester gas (ADG) can host
these fuel cell systems to generate renewable and clean baseload
power and heat without criteria pollutants. In addition to WWTPs,
FuelCell Energy’s fuel cell solutions are a perfect fit for other
alternative fuels markets such as breweries, biomass plants, and
landfills by producing baseload renewable and clean power at higher
efficiencies than conventional small combined heat and power
systems.
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, statements regarding
the Company’s plans and expectations regarding the continuing
development, commercialization and financing of its fuel cell
technology, and statements regarding the Company’s strategic
focuses 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,
business and strategic plans, refinancing and restructuring 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.
About FuelCell EnergyFuelCell Energy, Inc.
(NASDAQ: FCEL) delivers efficient, affordable and clean solutions
for the supply, recovery and storage of energy. We design,
manufacture, undertake project development of, install, operate and
maintain megawatt-scale fuel cell systems, serving utilities and
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 in designing,
manufacturing, installing, operating and
maintaining environmentally responsible fuel cell power
solutions. Visit us online at www.fuelcellenergy.com and follow us
on Twitter @FuelCell_Energy.
About E.ONE.ON is an international private
energy company, focusing entirely on energy networks and customer
solutions. As one of Europe's largest energy companies, E.ON plays
a leading role in shaping a clean, digital, decentralized world of
energy. To this end, the company develops and sells products and
solutions for private, commercial, industrial and public customers.
Around 70 million customers purchase electricity, gas, digital
products or solutions for electric mobility and energy efficiency
from E.ON. E.ON is headquartered in Essen, Germany. For more
information, please visit www.eon.com.
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.
Contact: |
FuelCell Energy203.205.2491ir@fce.com |
Source: FuelCell Energy
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