DANBURY, Conn., Aug. 20, 2007 (PRIME NEWSWIRE) -- FuelCell Energy, Inc., Pepperidge Farm, Incorporated, and the Connecticut Clean Energy Fund announced today that they have partnered to install a 1.2 MW fuel cell at Pepperidge Farm's Bloomfield, CT, bakery. The initiative is being supported by the Connecticut Clean Energy Fund (CCEF), a ratepayer fund administered by Connecticut Innovations Inc., which will provide $3.5 million of the cost. The 1.2 megawatt fuel cell will be manufactured by FuelCell Energy, Inc. (Nasdaq:FCEL), of Danbury, CT, a leading manufacturer of ultra-clean power plants for commercial, industrial and utility customers.
This will be the second fuel cell installation at the 260,000-square-foot Pepperidge Farm Bloomfield plant, which opened in 2003. A smaller, 250-kilowatt fuel cell was installed in January 2006, also with assistance from CCEF and FuelCell Energy. Once operational in summer 2008, the new fuel cell will supply about 57% of the total electrical needs for the bakery. The two fuel cells combined will provide about 70% of the required electricity and are expected to contribute to the reliability of electricity to the site. Additionally, excess heat from the new fuel cell will be channeled to support bakery processes, which will help reduce fuel needed for plant boilers.
"Pepperidge Farm is making excellent use of all the attributes of the fuel cell," said Lise Dondy, President of CCEF. "Not only are they deriving a significant portion of their required electricity from this fuel cell, but they are also effectively utilizing the fuel cell's thermal output to enjoy the added benefit of being able to operate with less dependence on the grid."
"By using our ultra-clean DFC(r) fuel cells which operate 24/7 with an electrical efficiency of 47% and thermal efficiencies of up to 80 percent, Pepperidge Farm stands to reduce its power costs while lowering emissions and increasing manufacturing reliability," added Richard Shaw, Director Business Development for FuelCell Energy. "When a customer like Pepperidge Farm signals its satisfaction by substantially expanding its investment in FuelCell Energy power plants, it can serve as a model for others."
"We are very pleased to be making this investment in our plant and in the environmental welfare of Connecticut, the home state of Pepperidge Farm," said Robert Furbee, Pepperidge Farm Senior Vice President, Operations. "It is not only a great business initiative but also a great partnership among Connecticut entities committed to pursuing clean, alternative energy sources for the state - Pepperidge Farm, the Connecticut Clean Energy Fund, and FuelCell Energy, Inc."
About Pepperidge Farm
Pepperidge Farm, Incorporated, based in Norwalk, Connecticut, is a leading provider of premium quality fresh bakery products, cookies, crackers, and frozen foods. Among the company's most popular products are Chocolate Chunk and Milano(r) cookies, Goldfish(r) snack crackers, and more than 50 varieties of fresh baked breads including Swirl, Pepperidge Farm Farmhouse(r), and Natural Whole Grain breads. Pepperidge Farm was founded in Connecticut in 1937 by Margaret Rudkin, an entrepreneurial homemaker who began baking fresh, all-natural bread for her allergy-afflicted son. The company is now a nationwide business with 8 manufacturing facilities, almost 5,000 employees, 3,500 independent distributorships, and over $1 billion in sales. Pepperidge Farm was acquired by Campbell Soup Company in 1961.
About the Connecticut Clean Energy Fund (CCEF)
CCEF was created by the Connecticut General Assembly and is administered by Connecticut Innovations, a quasi-public organization. CCEF promotes the development and commercialization of clean energy technologies; the creation of clean energy supply; and the demand for electricity from clean, renewable sources in Connecticut in order to strengthen Connecticut's economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF's funding comes from a surcharge on electric ratepayers' utility bills. For more information on CCEF, please visit www.ctcleanenergy.com.
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI's mission. For more information on CI, please visit www.ctinnovations.com.
About FuelCell Energy Inc.
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy's ultra-clean and high efficiency DFC(r) fuel cells are generating power at over 60 locations worldwide. The company's power plants have generated more than 180 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers, trading companies and power companies around the world. The company also receives substantial funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as hybrid fuel cell/turbine generators and solid oxide fuel cells. For more information please visit our website at www.fuelcellenergy.com.
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the continuing development and commercialization of its fuel cell technology. 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, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, 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.