08.04.03

7.4.2003: Meldung: FuelCell to Install Power Plant At Grand Valley

FuelCell Energy, Inc., has signed an agreement with Grand Valley State University to install and service a DFC300A fuel cell power plant for the Energy Institute"s 26,000 square foot research center in Muskegon, Mich. Funding for the entire project, including the building and the fuel cells, is being provided for by a $3 million alternative energy grant from the Michigan Public Service Commission and bonding from the City of Muskegon.

The Company"s Direct FuelCell(R) (DFC(R)) power plant will provide electricity and a heat recovery system for heating and cooling that advances energy technology applications in newly created research space, incubator facilities, conference center and classrooms. The project will also include a solar/photovoltaic installation that will provide hot water and hot air for heating and air conditioning. The state-of-the-art building is currently under construction and is expected to be completed by the fall of 2003.

This development will be the first commercial project in the world to integrate fuel cell technology, a heat recovery system for heating and air conditioning, photovoltaics and a nickel metal hydride battery storage system to store excess energy. The result will be a building that powers itself using green sources.

The project"s goal is to develop and improve the quality and application of energy efficient technologies such as fuel cells for stationary base load power generation and to expand the market for such technologies.

"Having our DFC power plant as the center of this integrated alternative energy system will further demonstrate fuel cell technology as a key clean, efficient and reliable source of base load power for an institutional application," said Jerry D. Leitman, Chairman and CEO of FuelCell Energy, Inc. "We are delighted to be working with the innovative leaders at Grand Valley State University and appreciate the support of the Michigan State Public Service Commission and the City of Muskegon."

Tim Schad, vice president for finance and administration at Grand Valley, is pleased with the many partners working together in this project.

"Michigan is poised to be a leader in the application of fuel cell technologies in both stationary and mobile applications," explained Schad. "The Muskegon SmartZone is a joint venture between Michigan Economic Development Corporation, City of Muskegon and Grand Valley State University for the purpose of research and business incubation in alternative energy."

"Grand Valley"s research center will serve as a model of how fuel cell technology can be used efficiently as an alternative source of power," said U.S. Rep. Pete Hoekstra, R-Michigan 2nd District. "I anticipate that it will become the premier institution for alternative energy research and development as people from throughout the world come to West Michigan to study and advance the technology."

FuelCell Energy"s DFC300A power plant will be delivered and installed in the fourth calendar quarter of 2003.

About Direct FuelCells

Direct FuelCells efficiently generate clean electricity at distributed locations near the customer, including hospitals, schools, universities, hotels and other commercial and industrial facilities, as well as in grid support applications for utility customers. In essence, Direct FuelCells are like large, continuously operating batteries that generate electricity as long as fuel, such as natural gas, is supplied. Since the fuel is not burned, there is no pollution commonly associated with the combustion of fossil fuels. Because hydrogen is generated directly within the fuel cell module from readily available fuels such as natural gas and wastewater treatment gas, DFC power plants are ready today and do not require the creation of a hydrogen infrastructure. This high-efficiency technology generates more electric power from less fuel and with less carbon dioxide emissions than traditional methods using combustion. Operating on biomass fuels, such as wastewater treatment digester gas, Direct FuelCells are a renewable technology.

About FuelCell Energy, Inc.

FuelCell Energy, Inc., based in Danbury, Connecticut, is a world leader in the development and manufacture of highly efficient hydrogen fuel cells for clean electric power generation, currently offering DFC power plant products ranging in size from 250 kilowatts to 2 megawatts for applications up to 50 megawatts.

The Company has developed commercial distribution alliances with MTU CFC Solutions Gmbh, a company of DaimlerChrysler AG, in Europe; Marubeni Corporation in Asia; and Caterpillar, PPL Energy Plus, Chevron Energy Solutions, and CMS Viron Energy Services in the U.S. FuelCell Energy is developing Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through their Office of Fossil Energy"s National Energy Technology Laboratory. More information is available at http://www.fuelcellenergy.com/.

About Grand Valley State University

Grand Valley State University, established in 1960, is a four-year public university based in Allendale, Mich. It attracts more than 20,000 students with its high quality programs and comprehensive facilities. Grand Valley provides a fully accredited liberal arts undergraduate and graduate education and has campuses in Allendale, Grand Rapids, Holland, Muskegon and Traverse City. The university is dedicated to individual student achievement, going beyond the traditional classroom experience, with research opportunities and business partnerships. Grand Valley employs more than 1700 people and is committed to providing a fair and equitable environment for the continued success of all.

This press 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.
3 Great Pasture Rd.
Danbury, CT 06813
203-825-6000
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