8.5.2006: Meldung: FuelCell Energy, Inc.: Marubeni Corp. to order 6 megawatts (MW) of DFC power plants
Thursday May 4, 8:30 am ET
Marubeni Commits to Order Additional 6 Megawatts of Ultra-Clean Direct FuelCell(R) (DFC(R)) Power Plants in Exchange for Extended Exclusivity in the Japanese Market
DANBURY, Conn.----May 4, 2006--FuelCell Energy, Inc., a leading manufacturer of ultra-clean, efficient electric power plants for commercial and industrial customers, today announced it has extended the distribution agreement with its Asian partner, Marubeni Corp., to sell DFC products in Japan. Terms of the revised agreement include a commitment by Marubeni to order 6 megawatts (MW) of DFC power plants and a cash down payment related to the commitment. In exchange, FuelCell Energy agreed to extend Marubeni"s exclusivity to sell DFC products in Japan.
"With the number of DFC power plants in Japan and Korea increasing, commercial and industrial customers in Asia are recognizing that Direct FuelCell power plants can provide firm, reliable power generation while reducing energy costs and greenhouse gases," said Kenji Natori General Manager of Marubeni"s New Technology & Renewable Energy Department. "With the highest electrical efficiency of any power generation technology in their size range, DFC power plants provide customers with greater control of their energy usage while reducing harmful emissions."
Today"s announcement supports FuelCell Energy"s long-standing strategy for addressing the growing market opportunities of selling DFC power plants in Japan. Initially, FuelCell Energy will add several local personnel for sales and servicing, supporting Marubeni"s recently increased sales staff of its Fuel Cell Japan subsidiary formed last year. In addition, the two companies will continue their efforts towards the formation of a joint venture for the packaging of DFC power plants in Japan. Moving more of the assembly of DFC power plants to Japan and incorporating balance of plant components from local vendors is expected to reduce product cost to be more competitive.
"Marubeni"s commitment clearly demonstrates that the market drivers for our high efficiency and ultra-clean DFC products in the Asian market are strengthening," said R. Daniel Brdar, President and CEO of FuelCell Energy, Inc. "Commercial and industrial companies in Asia are demanding high efficiency and reliable onsite power generation such as our ultra-clean power plants to help them reduce their power costs while complying with the mandates of the Kyoto Protocol."
Japan represents a significant market where FuelCell Energy"s DFC products can provide commercial and industrial customers with reliable and cost-effective base load power. Japan"s electricity prices are among the highest in the world. As of 2002, emissions of carbon dioxide per unit of Gross Domestic Product in Japan were the lowest among the world"s mature market economies, and it is projecting an additional 1.4 percent reduction by 2025. To achieve this, and to support the country"s drive towards achieving its Kyoto Protocol commitments, Japan enacted a national Renewable Portfolio Standards program in 2003, targeting 3,500 megawatts of power generation from renewable fuels by 2010. In fiscal year 2005 alone, Japan allocated over $500 million to promote the adoption of high efficiency new energy technologies at customer sites throughout the country. In addition Japan recently established the "Biomass Nippon" program, which allocated $282 million in fiscal year 2005 to fund research and commercial adoption of energy generation by renewable fuels such as digester gas from wastewater treatment plants. Bio gas is expected to be a sustainable growth market for distributed power generation, including DFC products.
DFC products address two significant energy issues in Japan: coping with high energy costs and meeting the country"s commitments to reduce emissions of the major greenhouse gas, carbon dioxide. Compared to the average U.S. fossil fueled power plant, high efficiency DFC products use less fuel per kilowatt hour of electricity to trim operating costs, while significantly reducing carbon dioxide. In addition, because DFC units generate heat and power electrochemically -- without combustion -- emissions of harmful pollutants such as nitrogen oxides, sulfur oxides and particulate matter are significantly diminished.
Marubeni"s cash down payment for the 6 MW commitment reserves inventory and placement in FuelCell Energy"s recently expanded manufacturing schedule. DFC power plants will be released for production and included in commercial product backlog when sales to specific customers are finalized.
The Marubeni Corporation (http://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.
Marubeni"s Power Projects Division has been involved in the development of over 20,000 megawatts of power generation worldwide. The Division has expanded its efforts to include distributed generation technologies, power quality & reliability technologies and energy & environmental services.
About FuelCell Energy
FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 40 power generation sites around the globe that have produced more than 94 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world"s ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com.
Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners. The Company"s sub-megawatt DFC fuel cell power plant is a collaborative effort combining its Direct FuelCell technology with a Hot Module® balance of plant design from MTU CFC Solutions, GmbH.
Steven P. Eschbach, 203-825-6000
Source: FuelCell Energy, Inc.