02.12.04

2.12.2004: Meldung: Chevron Energy Solutions to Install FuelCell Energy Power Plant

FuelCell Energy, a leading manufacturer of large stationary fuel cell power plants for commercial and industrial customers, announced today that Chevron Energy Solutions, a ChevronTexaco, subsidiary and FuelCell Energy distribution partner, has sold a 250-kilowatt Direct FuelCell(R) (DFC(R)) power plant to the U.S. Postal Service"s (USPS"s) San Francisco Processing and Distribution Center (P&DC).

Chevron Energy Solutions will develop, engineer and construct the project over the next year and provide a turn-key on-site generation solution to the facility. FuelCell Energy will provide the DFC300A power plant, technical support and system commissioning services.

The 680,000-square foot building is a major regional Postal Service hub, employing more than 2,700 people and processing 7.5 million pieces of mail and packages daily, around the clock. The DFC300A power plant is expected to provide part of the base load heat and power requirements, together with a separate 285-kilowatt system of solar generated power for peaking electricity demand. This hybrid power plant installation is part of a comprehensive system upgrade project by Chevron Energy Solutions for the P&DC and the Embarcadero Postal Center.

"This project is another indication that the fuel cell market is growing," said Jim Davis, president of Chevron Energy Solutions. "We believe there will continue to be new opportunities for projects involving hybrid renewable power plants, particularly in the public sector."

"This fuel cell installation is an integral part of our overall mandate of reducing our energy costs while at the same time making a positive impact on our environment," said Ray Levinson, USPS"s interim national environmental program manager.

"Combining DFC power plants with solar panels is the most environmentally sound approach to on-site power generation," said Herbert T. Nock, FuelCell Energy"s Senior Vice President of Marketing and Sales. "Our base load DFC products are an ideal match for the peaking attributes of solar technology for commercial and industrial customers."

The market for combined heat and power applications for federal government facilities in the U.S. is estimated to be 1,590 megawatts, based on a September 2002 study prepared for the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy by the Federal Energy Management Program.

The USPS"s San Francisco P&DC expects to receive up to $625,000 in funding for the fuel cell project from California"s Self Generation Incentive Program, as well as a grant of up to $250,000 from the U.S. Department of Defense Climate Change Fuel Cell Program.

About Direct FuelCells

FuelCell Energy"s Direct FuelCells efficiently generate clean electricity at distributed customer locations, including hospitals, schools, universities, hotels and other commercial and industrial facilities, as well as grid-support applications for utility customers. Direct FuelCells convert readily available fuels, such as natural gas or waste gas, to electrical power with greater efficiency than any competing technology of comparable size, including other fuel cells. This high-efficiency technology generates more electric power from less fuel and has the lowest emissions of any fossil based electric generating technology because the fuel is not burned. DFC power plants can be sited at or near users, and the heat byproduct can be used for cogeneration applications such as district heating, hot water or absorption chilling for air conditioning. Depending upon location, application and load size, the Company"s DFC power plants in a cogeneration configuration can achieve an overall energy efficiency of between 70 and 80 percent. The sub-megawatt 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.

About Chevron Energy Solutions

Chevron Energy Solutions, a subsidiary of ChevronTexaco , partners with institutions and businesses to improve facilities and increase their efficiency, help reduce energy expenses and help ensure reliable, high quality power for critical operations. Its customers include federal government agencies; state, county and municipal government agencies; schools, colleges and universities; and many other public institutions and commercial and industrial businesses. With more than two dozen locations nationwide, the company maintains in-house engineering, monitoring and project management capabilities, provides financing options and delivers solutions designed to address each customer"s particular needs without promoting specific vendors, products or commodities. More information is available at http://www.chevronenergy.com/.

About FuelCell Energy, Inc.

FuelCell Energy, Inc., based in Danbury, Connecticut, 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 Chevron Energy Solutions, Caterpillar, PPL Energy Plus, Alliance Power 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. FuelCell Energy delivered its first commercially available DFC300A power plant in January 2003. Through mid-October 2004, over 51 million kilowatt hours of electricity have been generated from power plants incorporating its DFC technology at customer sites throughout the world.

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 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.

Contact:

FuelCell Energy, Inc.
Investor and Media Contact:
Steven P. Eschbach, 203-825-6000
e-mail: seschbach@fce.com

Source: FuelCell Energy, Inc.
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