FuelCell Energy: $1.9 Million From American Recovery and Reinvestment Act Funds
FuelCell Energy, Inc., a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers,
announced that the U.S. Department of Energy (DOE) awarded it approximately $1.9 million for the Development of a Microchannel High Temperature Recuperator for Fuel Cell Systems. The award will be funded from the American Recovery and Reinvestment Act (ARRA) of 2009.
The program's goal is to improve the performance and cost of fuel cell power plants that are integrated with unfired gas turbines in combined cycle applications such as FuelCell Energy's patented Direct FuelCell/Turbine, by using advances in microchannel technology. Microchannels are tiny passages in the heat exchangers (recuperators) that significantly enhance heat recovery effectiveness and potentially reduce recuperator cost. The project includes the testing of prototype recuperators, test analysis, model validation, and design of units sized appropriately for a MW-class fuel cell system.
"This award is the first of several we hope to win under the ARRA," said Christopher Bentley, Executive Vice President of FuelCell Energy. "Our partnership with DOE over the last forty years has been a critical factor in the successful development and commercialization of fuel cell technologies."
The recuperator will be developed using FuelCell Energy's DFC/Turbine and solid oxide fuel cell systems. Today's carbonate DFC technology was developed under a $135 million DOE Molten Carbonate Fuel Cell Product Design and Improvement Program. FuelCell Energy's DFC/Turbine delivers approximately 60 percent electrical efficiency -- twice that of the electrical grid -- and is ideally suited for utilities that have an increasing need for clean distributed generation where their systems are weakest.
Additionally, FuelCell Energy is developing coal-based solid oxide fuel cell systems under a $30 million DOE Office of Fossil Energy Solid State Energy Conversion Alliance (SECA) Coal-Based Systems Cooperative agreement.
FuelCell Energy, in partnership with Pacific Northwest National Laboratory (PNNL), will fabricate and test a 15 kilowatt and a 150 kilowatt thermal recuperator. This project involves the development of design, scalability analysis, fabrication, and commercial applicability of microchannel-based recuperators for fuel cell systems.
The ARRA was passed to create jobs and spur economic recovery. The Act allocates over $30 billion for energy-related projects that include energy efficiency, new clean technologies, and a strong, reliable grid infrastructure.
About FuelCell Energy
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy's ultra-clean and high efficiency DFC(r) fuel cells are generating power at over 50 locations worldwide. The company's power plants have generated over 340 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the continuing 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, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, competition, and the Company's ability to achieve its sales plans and cost reduction targets, 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.