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03.05.2005 15:08:00
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FuelCell Energy Power Plant Running on Waste Byproduct to Generate Sta
FuelCell Energy Power Plant Running on Waste Byproduct to Generate Stable Electricity Source for Showcase Eco-Community in Kyoto, Japan Electricity produced in renewable energy system to help hospital, school, apartment buildings and City Hall achieve reduced emissions in compliance with Kyoto Protocols
FuelCell Energy Inc. (NasdaqNM:FCEL) today announced that one of its 250-kilowatt Direct FuelCell(R) (DFC(R)) power plants, sold by its Asian distributor Marubeni Corporation (TSE:8002), will supply power as part of the electric grid servicing a school, a hospital, apartment buildings and city hall in a planned, renewable energy community on the western coast of Japan.
In keeping with the Kyoto Eco-Energy organization's desire to balance intermittent power generated by sources such as wind and solar, a 250 kilowatt DFC plant will efficiently convert waste from a food processing plant into high quality electricity. Heat energy produced by the power plant also will be used to warm water flowing into the food waste digestion process, thus increasing overall system efficiency.
Kyotango City's DFC power plant is part of an 850-kilowatt mini-grid consisting of the fuel cell unit, a wind turbine, photovoltaics and gas engines connected in parallel to the local electrical grid. Acknowledging the environmental advantages of the project, Japan's New Energy and Industrial Technology Development Organization (NEDO) is supporting the capital and installation cost.
"The Eco-Energy Project is ideal for a DFC power generation plant," said Marc G. Aube, Marubeni Vice President. "Its ultra-clean, highly efficient generation process provides a breakthrough means to enable Japan's earth-minded municipalities and industry to deploy and stabilize the renewable energy solutions that help parties comply with the Kyoto Protocol."
"There is a great deal of excitement in Japan over the use of fuel cells to generate power on a community-wide scale," said Herbert T. Nock, FuelCell Energy's Senior Vice President of Marketing and Sales. "In Japan and other Asian and European nations that are attempting to reduce emissions in accordance with the requirements of the Kyoto Protocols, this energy site represents an important double-win for us. It replicates our success in providing power in renewable waste treatment facilities and it goes further in demonstrating the feasibility of tying DFC technology into the grid, as we have previously accomplished in industrial settings."
Direct FuelCells generate electricity without combustion. As long as fuel is supplied, they operate continuously to produce power through highly efficient electrochemical reactions. Since fuel is not burned, none of the pollution commonly associated with burning fossil fuels occurs.
Shipment of the DFC unit is expected to take place in the third calendar quarter of 2005.
The Eco-Energy project was launched in 2003 in Japan's Kyoto Prefecture to demonstrate how renewable energy systems can be employed to provide stable power supplies in community settings. It combines the intermittent power from solar and wind sources with biomass energy and fuel cells, which produce electricity on a controllable yet ultra-clean basis. The Kyoto Protocol is a legally binding agreement under which over 140 industrialized countries have committed to substantially reduce their collective emissions of greenhouse gases, such as carbon dioxide, methane and nitrous oxide, among others. FuelCell Energy believes its DFC power plants, which emit 99.9 percent less harmful pollution and particulates than the average U.S. fossil fuel power plant, represents an important "ultra-clean" option for energy projects complying with the Kyoto Protocol.
About Marubeni
The Marubeni Corporation (www.marubeni.co.jp/english/index.html), established in 1858, is one of Japan's leading general trading/marketing houses (sogo shosha). The Company was ranked as the 25th largest in Fortune Magazine's Global Fortune 500 list for 2002. Marubeni has 12 Divisions with operations that encompass domestic, import/export, offshore trade and investment activities, which range from the development of natural resources to the retail marketing of finished products. The Company, based in Tokyo, conducts these operations through a worldwide business network that includes 52 overseas corporate offices and 28 overseas subsidiaries, for a total of 131 offices in 73 countries.
About FuelCell Energy
FuelCell Energy, Inc., based in Danbury, Conn., is a world leader in the development and manufacture of high temperature fuel cells for clean electric power generation. The company has developed commercial distribution alliances for its carbonate Direct FuelCell products with world class companies such as PPL Energy Plus, Caterpillar, Alliance Power, Chevron Energy Solutions and LOGANEnergy in the U.S.; Marubeni Corporation in Asia; MTU CFC Solutions in Europe; and Enbridge Inc. in Canada. FuelCell Energy developed its patented Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through its Office of Fossil Energy's National Energy Technology Laboratory.
The sub-megawatt DFC fuel cell power plant is a collaborative effort using Direct FuelCell(R) technology of FuelCell Energy and the Hot Module(R) balance of plant design of MTU CFC Solutions, GmbH, a subsidiary of DaimlerChrysler. FuelCell Energy is also developing next generation high temperature fuel cell products, such as a diesel fueled marine Ship Service Fuel Cell, a combined-cycle DFC/Turbine(R) power plant and solid oxide fuel cells through its investment in and partnership with Versa Power Systems for applications up to 100 kilowatts. More information is available at http://www.fuelcellenergy.com.
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the 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.
--30--MW/ny*
Business Editors/Energy Editors/Environment Writers
KYOTANGO CITY, Japan--(BUSINESS WIRE)--May 3, 2005--
FuelCell Energy Inc. (NasdaqNM:FCEL) today announced that one of its 250-kilowatt Direct FuelCell(R) (DFC(R)) power plants, sold by its Asian distributor Marubeni Corporation (TSE:8002), will supply power as part of the electric grid servicing a school, a hospital, apartment buildings and city hall in a planned, renewable energy community on the western coast of Japan.
In keeping with the Kyoto Eco-Energy organization's desire to balance intermittent power generated by sources such as wind and solar, a 250 kilowatt DFC plant will efficiently convert waste from a food processing plant into high quality electricity. Heat energy produced by the power plant also will be used to warm water flowing into the food waste digestion process, thus increasing overall system efficiency.
Kyotango City's DFC power plant is part of an 850-kilowatt mini-grid consisting of the fuel cell unit, a wind turbine, photovoltaics and gas engines connected in parallel to the local electrical grid. Acknowledging the environmental advantages of the project, Japan's New Energy and Industrial Technology Development Organization (NEDO) is supporting the capital and installation cost.
"The Eco-Energy Project is ideal for a DFC power generation plant," said Marc G. Aube, Marubeni Vice President. "Its ultra-clean, highly efficient generation process provides a breakthrough means to enable Japan's earth-minded municipalities and industry to deploy and stabilize the renewable energy solutions that help parties comply with the Kyoto Protocol."
"There is a great deal of excitement in Japan over the use of fuel cells to generate power on a community-wide scale," said Herbert T. Nock, FuelCell Energy's Senior Vice President of Marketing and Sales. "In Japan and other Asian and European nations that are attempting to reduce emissions in accordance with the requirements of the Kyoto Protocols, this energy site represents an important double-win for us. It replicates our success in providing power in renewable waste treatment facilities and it goes further in demonstrating the feasibility of tying DFC technology into the grid, as we have previously accomplished in industrial settings."
Direct FuelCells generate electricity without combustion. As long as fuel is supplied, they operate continuously to produce power through highly efficient electrochemical reactions. Since fuel is not burned, none of the pollution commonly associated with burning fossil fuels occurs.
Shipment of the DFC unit is expected to take place in the third calendar quarter of 2005.
The Eco-Energy project was launched in 2003 in Japan's Kyoto Prefecture to demonstrate how renewable energy systems can be employed to provide stable power supplies in community settings. It combines the intermittent power from solar and wind sources with biomass energy and fuel cells, which produce electricity on a controllable yet ultra-clean basis. The Kyoto Protocol is a legally binding agreement under which over 140 industrialized countries have committed to substantially reduce their collective emissions of greenhouse gases, such as carbon dioxide, methane and nitrous oxide, among others. FuelCell Energy believes its DFC power plants, which emit 99.9 percent less harmful pollution and particulates than the average U.S. fossil fuel power plant, represents an important "ultra-clean" option for energy projects complying with the Kyoto Protocol.
About Marubeni
The Marubeni Corporation (www.marubeni.co.jp/english/index.html), established in 1858, is one of Japan's leading general trading/marketing houses (sogo shosha). The Company was ranked as the 25th largest in Fortune Magazine's Global Fortune 500 list for 2002. Marubeni has 12 Divisions with operations that encompass domestic, import/export, offshore trade and investment activities, which range from the development of natural resources to the retail marketing of finished products. The Company, based in Tokyo, conducts these operations through a worldwide business network that includes 52 overseas corporate offices and 28 overseas subsidiaries, for a total of 131 offices in 73 countries.
About FuelCell Energy
FuelCell Energy, Inc., based in Danbury, Conn., is a world leader in the development and manufacture of high temperature fuel cells for clean electric power generation. The company has developed commercial distribution alliances for its carbonate Direct FuelCell products with world class companies such as PPL Energy Plus, Caterpillar, Alliance Power, Chevron Energy Solutions and LOGANEnergy in the U.S.; Marubeni Corporation in Asia; MTU CFC Solutions in Europe; and Enbridge Inc. in Canada. FuelCell Energy developed its patented Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through its Office of Fossil Energy's National Energy Technology Laboratory.
The sub-megawatt DFC fuel cell power plant is a collaborative effort using Direct FuelCell(R) technology of FuelCell Energy and the Hot Module(R) balance of plant design of MTU CFC Solutions, GmbH, a subsidiary of DaimlerChrysler. FuelCell Energy is also developing next generation high temperature fuel cell products, such as a diesel fueled marine Ship Service Fuel Cell, a combined-cycle DFC/Turbine(R) power plant and solid oxide fuel cells through its investment in and partnership with Versa Power Systems for applications up to 100 kilowatts. More information is available at http://www.fuelcellenergy.com.
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the 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.
--30--MW/ny*
CONTACT: Investor and Media: FuelCell Energy Inc. Steven P. Eschbach, CFA, 203-825-6000 seschbach@fce.com
KEYWORD: CONNECTICUT JAPAN INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: ENVIRONMENT ENERGY PRODUCT SOURCE: FuelCell Energy Inc.
Copyright Business Wire 2005
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