DANBURY, Conn., Aug. 9, 2010 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL) a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers today announced the sale of two 300 kilowatt DFC300 fuel cell power plants to be installed at the U.S. Naval Submarine Base New London, located in Groton, CT.
The two DFC300 fuel cell power plants will be installed adjacent to the existing energy plant on the Base and will provide reliable base load electricity to the Base. The byproduct heat generated by the fuel cell energy conversion process will be utilized for pre-heating the water used in the boiler at the existing energy plant, reducing fuel costs for the Base. FuelCell Energy's partner, LOGANEnergy will purchase, install and operate the fuel cell power plants, subcontracting maintenance services to FuelCell Energy under a three year service contract.
The efficiency of fuel cells is almost 80% when the byproduct heat from the energy conversion process is utilized for facility heating or heating water. This high efficiency reduces greenhouse gas emissions, improving the carbon footprint for the Base.
"We are pleased with this opportunity to broaden our relationship with the U.S. Department of Defense and the U.S. Navy as we assist them in reaching their clean energy goals," said Richard Shaw, Director Business Development FuelCell Energy, Inc. "Our fuel cell power plants decrease greenhouse gas emissions and virtually eliminate the emission of harmful pollutants compared to combustion based power generation alternatives while improving the security and reliability of the power supply."
Naval Submarine Base New London is the U.S. Navy's first submarine base and is the home port for a fleet of attack submarines and the Navy's nuclear research deep submersible NR-1. The base is located on the east side of the Thames River in Groton, CT and the main base occupies more than 687 acres. The base supports more than 70 tenant commands including, Commander Submarine Group 2, Naval Submarine School, Naval Submarine Support Facility, three submarine squadron staffs, and the housing and support facilities for more than 21,000 civilian workers, active-duty service members and their families.
LOGANEnergy is a dedicated fuel cell energy service company, specializing in designing and developing fuel cell projects. Founded in 1993, LOGANEnergy's worldwide portfolio exceeds 11 MW of fuel cell capacity with more than 150 installations at 100 sites.
About FuelCell Energy
DFC® fuel cells are generating power at over 50 locations worldwide. The Company's power plants have generated over 500 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 and power companies around the world. The Company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as 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, 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, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, 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.