DRESDEN, Germany, July
22, 2014 (GLOBE NEWSWIRE) -- FuelCell Energy Solutions GmbH (FCES),
which manufactures, sells, operates and services ultra-clean,
efficient and reliable fuel cell power plants, announced the
issuance of nearly €5 million in awards by Germany's Federal
Ministry for Economic Affairs and Energy to support a three year
research and development project between FCES and joint venture
partner Fraunhofer IKTS. The project targets further enhancements
to the Direct FuelCell®
(DFC®) technology
by increasing power density and operating life of the fuel cells,
leading to lower costs. The research is being performed in Germany
by FCES at an existing facility in Ottobrunn and by Fraunhofer IKTS
at a facility located in Dresden.
"Fraunhofer IKTS continues to undertake fuel cell research in
recognition that the attributes of high efficiency, virtual lack of
emissions, low carbon output, and ability to easily site fuel cell
plants in populated areas can help address the power generation
challenges facing Germany and many other European countries," said
Prof. Dr. Alexander Michaelis, Director of Fraunhofer IKTS. "The
awards from the Federal Ministry for Economic Affairs and Energy
will help expand Germany's existing fuel cell knowledge and assist
in advancing the technology towards greater adoption that should
support economic development in Germany."
"With the support of various government organizations, strategic
partners and private industry, product, performance and system
enhancements continue on our proprietary fuel cell technology and
are now being performed on three continents; validating the global
interest in our power and hydrogen generation solutions that
enhance the resiliency of power distribution in an ultra-clean and
affordable manner," said Chip Bottone, President and Chief
Executive Officer of FuelCell Energy, Inc. and Managing Director of
FuelCell Energy Solutions GmbH. "We utilize a common global
technology platform so enhancements developed under these awards
can support global markets, further strengthening the
attractiveness of our product offerings."
The research and development program aims to enhance the DFC fuel
cell performance by increasing the power output of the fuel cell
stack, making the fuel cell power plants even more affordable based
on increased power output from the fuel cells and extended
operating life for the fuel cell stack. With growing adoption
supported by this research program, enhancement of the fuel cell
manufacturing in Germany is expected to follow, leading to job
creation from manufacturing and the associated supply chain
multiplier effect.
Fuel cells electrochemically convert a fuel source into electricity
and heat in a highly efficient process that emits virtually no
pollutants due to the absence of combustion. Direct
FuelCell®
(DFC®) stationary
power plants utilize carbonate fuel cell technology and provide
continuous baseload power located where the power is used,
including both on-site applications and electric grid support. The
combination of near-zero pollutants, modest land-use needs, and
quiet operating nature of these power plants facilitates locating
the power plants in urban locations. The power plants are fuel
flexible, capable of operating on natural gas, on-site renewable
biogas, or directed biogas.
FCES, with its German manufacturing base, is the sales,
manufacturing and service business for the European Served Area for
FuelCell Energy, Inc. FCES is a joint venture between Fraunhofer
IKTS and FuelCell Energy, Inc. (Nasdaq:FCEL).
Founded in 1949, Fraunhofer is Europe's largest
application-oriented research organization with an annual research
budget of €1.8 billion (approximately $2.3 billion) and more than
18,000 staff, primarily scientists and engineers. Fraunhofer has
research centers and representative offices in Europe, USA, Asia
and the Middle East, and more than 80 research units, including 60
Fraunhofer Institutes, at different locations in Germany. The
Fraunhofer IKTS with its staff of 620 highly educated engineers,
scientists and technicians is a world leading institute in the
field of advanced ceramics for high-tech applications. The primary
markets for Fraunhofer IKTS include energy and environmental
technology with a focus on fuel cell development and
commercialization. Website:
www.ikts.fraunhofer.de/en.html.
About FuelCell Energy
Solutions GmbH
FuelCell Energy Solutions manufactures, sells, installs, and
services stationary fuel cell power plants that efficiently and
economically generate electricity and usable high quality heat
suitable for making steam. Administrative offices are located in
Dresden, Germany and manufacturing operations are located in
Ottobrunn, Germany. Continuous power generated at the point of use
with the virtual absence of pollutants supports energy security and
power reliability as well as sustainability initiatives.
Ultra-Clean baseload distributed generation is attractive to
electric utilities, universities, hospitals, government facilities,
industrial operations and other locations with significant power
needs. For more information please visit our website at
www.fces.de.
This news release contains forward-looking
statements, including statements regarding FuelCell Energy, Inc.'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 FuelCell
Energy, Inc.'s ability to achieve its sales plans and cost
reduction targets, as well as other risks set forth in the FuelCell
Energy, Inc. filings with the U.S. Securities and Exchange
Commission. The forward-looking statements contained herein speak
only as of the date of this press release. FuelCell Energy, Inc.
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statement to reflect
any change in FuelCell Energy, Inc.'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 in the U.S.A. of FuelCell Energy, Inc.
DFC-ERG is a registered trademark jointly owned by Enbridge, Inc.
and FuelCell Energy, Inc.
CONTACT: FuelCell Energy Solutions GmbH
Andreas Froemmel
VP of Business and
Commercial Development
+ 49 351 2553 7390
afroemmel@fces.de
FuelCell Energy, Inc.
Kurt Goddard
Vice President Investor Relations
+01 203-830-7494
ir@fce.com
Fraunhofer IKTS
Katrin Schwarz
+49 2553 7720
katrin.schwarz@ikts.fraunhofer.de
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