San Bernardino Renewable BioFuels Project Construction Begins; FuelCell Energy to Assist San Bernardino with Reducing the Use...
May 04 2020 - 7:30AM
FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in
fuel cell technology--with a purpose of utilizing its proprietary,
state-of-the-art fuel cell platforms to enable a world empowered by
clean energy--announced the commencement of site construction for
its 1.4 megawatt SureSource 1500™ biofuels fuel cell project with
the City of San Bernardino Municipal Water Department (SBMWD) in
California. The project is expected to become commercially
operational in December 2020.
Key highlights include:
- The SureSource 1500™ power plant will operate on the City’s
anaerobic digester gas (ADG), which will be treated by the
proprietary SureSource Treatment™ system, cleanly producing
electricity and thermal energy to support the operation of the
SBMWD water reclamation plant.
- The SureSource Treatment™ system is a proprietary clean up
technology optimized by FuelCell Energy’s extensive experience with
on-site biogas treatment. This system allows FuelCell Energy to
clean up biofuel and use it on site without injection into the
common carrier gas pipeline. Gas treatment requirements are
reduced compared to pipeline injection because of the ability of
SureSource fuel cell systems to utilize low-Btu biogas.
- Following the commercial operation date, the SBMWD will
purchase the clean electricity produced through a 20-year Power
Purchase Agreement (PPA).
- FuelCell Energy’s SureSource power platform will use
methane–rich biogas that would otherwise be flared, wasting energy
and producing emissions, to produce clean, renewable, carbon
neutral power.
- Servicing a population of approximately 200,000 residents, the
SBMWD delivers more than 15.5 billion gallons of water per year,
and provides wastewater collection and treatment at the water
reclamation plant.
- Pursuant to FuelCell Energy’s existing $200 million credit
agreement with Orion Energy Partners, Orion Energy Partners has
agreed that up to $3.5 million previously advanced by Orion Energy
Partners and currently in a FuelCell Energy restricted account may
be applied to reimburse the Company for construction costs for the
project incurred to date and for future project construction
costs.
“A few months ago, FuelCell Energy committed to
executing on the build-out of our PPA backlog. That is exactly what
we are doing. We are excited to enter the construction phase of our
1.4 megawatt project with the city of San Bernardino Municipal
Water Department. The San Bernardino SureSource platform will
utilize our utility-scale fuel cell power and heat platform,
coupled with our proprietary engineered biogas treatment system,"
commented Jason Few, President and Chief Executive Officer,
FuelCell Energy. “The continuous power profile of our platforms
makes them an excellent fit with wastewater treatment plants.
Specifically, our fuel cell can operate at peak efficiency
utilizing the on-site anaerobic digester gas while providing
important thermal heat that enhances the treatment process. Perhaps
most importantly, our platform will enable the reduction in usage
of another flare.”
Miguel Guerrero, General Manager of the San
Bernardino Municipal Water Department commented, “The FuelCell
Energy fuel cell plant will produce renewable energy for the Water
Department by using the biogas generated at the Water Reclamation
Plant. Especially important to our city is the reduction of the
flaring of the waste water treatment biogas, which is also a key
element in the Department’s compliance plans with the South Coast
Air Quality Management District.”
Cautionary LanguageThis 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 its business plans and strategies. 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, ability to access
certain markets, unanticipated manufacturing issues that impact
power plant performance, changes in critical accounting policies,
access to and ability to raise capital and attract financing,
potential volatility of energy prices, disease outbreaks and
pandemics such as the novel coronavirus (“COVID-19”), rapid
technological change, competition, the Company’s ability to
successfully implement its new business strategies and achieve its
goals, the Company’s ability to achieve its sales plans and cost
reduction targets, and the current implications of Covid-19, 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.
Except as required by applicable law, 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) is a global leader in developing
environmentally responsible distributed baseload power solutions
through our proprietary molten-carbonate fuel cell technology. We
develop turn-key distributed power generation solutions and operate
and provide comprehensive services for the life of the power plant.
We are working to expand the proprietary technologies that we have
developed over the past five decades into new products, markets and
geographies. Our mission and purpose remains to utilize our
proprietary, state-of-the-art fuel cell power plants to reduce the
global environmental footprint of baseload power generation by
providing environmentally responsible solutions for reliable
electrical power, hot water, steam, chilling, hydrogen, microgrid
applications, and carbon capture and, in so doing, drive demand for
our products and services, thus realizing positive stockholder
returns. Our fuel cell solution is a clean, efficient alternative
to traditional combustion-based power generation and is
complementary to an energy mix consisting of intermittent sources
of energy, such as solar and wind turbines. Our systems answer the
needs of diverse customers across several markets, including
utility companies, municipalities, universities, hospitals,
government entities and a variety of industrial and commercial
enterprises. We provide solutions for various applications,
including utility-scale distributed generation, on-site power
generation and combined heat and power, with the differentiating
ability to do so utilizing multiple sources of fuel including
natural gas, Renewable Biogas (i.e., landfill gas, anaerobic
digester gas), propane and various blends of such fuels. Our
multi-fuel source capability is significantly enhanced by our
proprietary gas-clean-up skid. Visit us online
at www.fuelcellenergy.com and follow us on
Twitter @FuelCell_Energy.
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: |
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FuelCell Energy |
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203.205.2491 |
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ir@fce.com |
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Source: FuelCell Energy |
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