03.11.04

3.11.2004: Meldung: FuelCell Energy, Inc.: Versa Power Systems Complete Asset Purchase Agreement

FuelCell Energy, Versa Power Systems Complete Asset Purchase Agreement
Tuesday November 2, 9:03 am ET

DANBURY, Conn.-- Nov. 2, 2004--FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of large stationary fuel cell power plants for commercial and industrial customers, announced today that it has consummated its previously announced sale of its Canadian solid oxide fuel cell operations to Versa Power Systems (Versa). In exchange, FuelCell Energy received stock in Versa, increasing its ownership position in Versa from 16 percent to 42 percent.

On October 29, 2004, all of the approximately 2 million issued and outstanding exchangeable shares of FuelCell Energy, Ltd. were redeemed in exchange for shares of FuelCell Energy, Inc. common stock on a one-for-one basis. This has no impact on the total number of outstanding shares of FuelCell Energy"s common stock.

About FuelCell Energy, Inc.

FuelCell Energy, Inc., based in Danbury, Connecticut, is a world leader in the development and manufacture of high temperature hydrogen fuel cells for clean electric power generation. The Company has developed commercial distribution alliances for its carbonate Direct FuelCell products with MTU CFC Solutions, GmbH, a subsidiary of DaimlerChrysler, in Europe; Marubeni Corporation in Asia; Enbridge Inc. in Canada; Caterpillar, PPL Energy Plus, Chevron Energy Solutions, Alliance Power and LOGANEnergy in the U.S. 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 fuel cell power plant is a collaborative effort using Direct FuelCell® technology of FuelCell Energy and the Hot Module® balance of plant design of MTU CFC Solutions.

FuelCell Energy is developing next generation high temperature fuel cell products, such as a diesel fueled marine Ship Service Fuel Cell, a combined-cycle DFC/Turbine® power plant and solid oxide fuel cells for initial applications up to 100 kilowatts. More information is available at http://www.fuelcellenergy.com.

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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