FuelCell Energy's DFC300A Power Plant Receives Certification for Grid Interconnection in California
Wednesday, Febuary 19, 2003 10:29 AM ET Printer-friendly version
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 19, 2003--
"Rule 21" Certification Will Reduce Time, Cost of DFC Power Plant Installations in California
FuelCell Energy, Inc. (NasdaqNM: FCEL) announced today that it has received notice from the California Energy Commission (CEC, news) that its DFC300A Direct FuelCell(R, news) (DFC(R, news)) power plant is certified for grid interconnection under California's "Rule 21" standard.
This makes the DFC300A the largest fuel cell power plant to receive such certification by the CEC.
Rule 21, a collaborative effort of the CEC and California's three largest investor-owned utilities, specifies standard interconnection, operating, and metering requirements for distributed electric power generators such as fuel cells. It is intended to streamline the process of permitting such generators while ensuring safe connection to the electrical grid. This certification will significantly reduce the time, cost and complexity for future interconnection with the state's grid system, avoiding costly external equipment procurement requirements and extensive site-by-site as well as utility-by-utility analyses.
"Rule 21 grid interconnection certification is an important step in our commercialization strategy for us to effectively compete for distributed generation opportunities in California," said Jerry D. Leitman, president and CEO of FuelCell Energy. "Fuel cell deployment resolves energy and environmental issues in California that is consistent with CEC's mandate of using distributed energy resources to diversify its generation supply portfolio."
The DFC300A is the first of FuelCell Energy's three core products to receive Rule 21 certification. The company will be pursuing certification for its DFC1500 and DFC3000 products later this year.
Rule 21 certification also enhances the eligibility of the Company's DFC products for state incentive programs, such as the California Public Utility Commission's Self Generation Program and the CEC's Emerging Renewables Buydown Program. Both offer subsidies of up to $4,500/kW or 50 percent (whichever is less) for fuel cell projects that utilize renewable fuels. The CEC's program also offers subsidies of $2,500/kW or 40 percent of total project cost (whichever is less) for combined heat and power fuel cell projects that operate on natural gas.
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 applications. In essence, they 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. The high efficiency leads to the generation of more electric power from less fuel and with less carbon dioxide emission. Operating on biomass fuels, such as wastewater treatment digester gas, the Direct FuelCell is a renewable technology.
About FuelCell Energy, Inc.
FuelCell Energy, Inc. (http://www.fuelcellenergy.com) 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, a unit of DaimlerChrysler, in Europe; Marubeni Corporation in Asia; and Caterpillar, PPL Energy Plus, Chevron Energy Solutions, CMS Viron Energy Services and MWH Global 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.
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.
Steven P. Eschbach, CFA, 203/825-6000; seschbach@fce.com
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