FOR IMMEDIATE RELEASE
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April 17, 2013
Energenic Subsidiary Agrees to Purchase Fuel Cell Power Plant
Mays Landing, NJ - Energenic announced today that its subsidiary, Hartford Steam Company has reached an agreement to install a 1.4 megawatt fuel cell at Hartford Hospital in Hartford, CT. Energenic is the joint venture company of Marina Energy LLC, a South Jersey Industries subsidiary (NYSE:SJI), and DCO Energy, LLC.
Hartford Steam will sell the ultra-clean electricity and steam generated by the $8 million power plant to Hartford Hospital under a long-term energy purchase agreement that will result in savings to the hospital. Excess heat not used by the hospital will be used by the district heating system owned and operated by Hartford Steam. The plant is expected to be operational in December 2013.
"The ability of the fuel cell power plant to produce both electricity and steam from the same unit of fuel supports the attractive economics of this installation," said Derek Rudd, president, Hartford Steam. "We are interested in diversifying our combined heat and power generation portfolio and the low emission profile of this on-site power plant supports our sustainability and green initiatives."
Hartford Steam is eligible to receive renewable energy credit payments for each megawatt hour of power produced under the State of Connecticut LREC program due to the high efficiency and virtual lack of pollutants from the fuel cell power plant. Connecticut has created a number of long term programs and objectives to drive deployment of clean distributed generation, including the authorization of renewable energy credits for low-emissions technologies such as fuel cells. The long-term nature of the multiyear REC program makes it attractive to owners and project investors as it provides them with certainty of economic returns.
Over one year of power production, the fuel cell power plant is expected to prevent the emission of more than 57,000 pounds of nitrogen oxide, a pollutant that causes smog, as well as preventing the emission of more than 128,000 pounds of sulfur dioxide and more than 3,000 pounds of particulate matter compared to conventional combustion-based power generation. The high efficiency of the fuel cell power generation process significantly reduces CO2 emissions compared to combustion-based power generation and the combined heat and power configuration further drives efficiency. The power plant is expected to prevent the emission of more than 6,700 tons of CO2 over the course of one year when compared to conventional combustion-based power generation, which is equivalent to removing more than 1,200 cars from the road.
About Energenic
Energenic is a joint business venture between long-term business partners Marina Energy LLC, a subsidiary of South Jersey Industries (NYSE: SJI), and DCO Energy LLC. Energenic specializes in the comprehensive design, development, construction and long term operation of large-scale energy projects and has offices in Nevada and New Jersey. For more information, visit energenic-us.com, sjindustries.com and dcoenergy.com.
About Hartford Steam
Hartford Steam Company owns and operates two district energy systems that heat and cool more than 60 buildings totaling approximately 14 million square feet in Hartford, Connecticut. Hartford Steam, founded in 1962 and purchased by Energenic in 2012, serves 85 percent of the downtown Hartford area Class A office space. Energenic specializes in the comprehensive design, development, construction and operation of large-scale energy projects. For more information, visit www.energenic-us.com.
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