Danbury, CT (GLOBE NEWSWIRE) - FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, today announced the execution of a power purchase agreement (PPA) with Trinity College in Hartford, Connecticut, to install a 1.4 megawatt fuel cell power plant projected to save the institution approximately 30 percent in annual energy costs. The combined heat and power (CHP) fuel cell plant will be located adjacent to the school’s athletic center, and will generate a continuous supply of on-site electricity and steam for the campus, serving approximately 2,200 students. With grid-independent operating capabilities, the fuel cell plant supports future implementation of a micro-grid for the campus. FuelCell Energy will provide a turn-key solution including the installation of the power plant and long term operation and maintenance. Trinity College will pay for power as it is produced, avoiding a capital investment in power generation.
“Trinity is committed to enhancing environmental awareness, responsibility, and sustainability throughout our College community and this on-site fuel cell power solution is a first step,” said Dan Hitchell, vice president for finance and operations of Trinity College.
“We are pleased to be working with Trinity College in delivering an unobtrusive, quiet power generation solution right on campus that will advance sustainability goals while strengthening critical infrastructure and reducing operating costs for the College,” said Chip Bottone, President and Chief Executive Officer, FuelCell Energy. “As numerous universities and colleges have demonstrated, fuel cells are an ideal solution for higher education to enhance energy resiliency in a clean and affordable manner.”
The 1.4 megawatt fuel cell plant will generate both electricity and steam from the same unit of fuel, supporting both sustainability and economics, while achieving overall system efficiency upwards of 70 percent. The steam produced by the plant will supply the centralized steam system. Minimizing use of boilers for steam reduces operating costs for the College as well as reducing associated emissions from the combustion-based heating process.
The highly efficient fuel cells utilize electrochemistry for the generation of electricity, enhancing sustainability by avoiding the creation of pollutants that burning a fuel generates, and generating power with a low carbon footprint. The carbon dioxide (CO₂) reduction achieved by the fuel cell plant will be approximately 4,100 tons per year as compared to the national grid, which is equivalent to avoiding the annual greenhouse gas emissions from approximately 965 passenger vehicles. This clean fuel cell installation will annually avoid the emission of approximately 8 tons of smog-producing nitrogen oxide (NOx), 10 tons of sulfur dioxide (SOx) that causes acid rain and more than 2,500 pounds of particulate matter (PM) that can aggravate asthma.
FuelCell Energy solves power generation challenges, cleanly, efficiently and affordably, providing:
Trinity College (www.trincoll.edu), founded in 1823, is a liberal arts college on a 100-acre campus in Hartford, Connecticut. The undergraduate enrollment is approximately 2,200 students.
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements with respect to Fuelcell’s expectations regarding energy cost savings, overall system efficiency, expectation regarding the amount of power generation and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of FuelCell and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and FuelCell undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although FuelCell believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of FuelCell in general, see the risk disclosures in FuelCell’s filings with the Securities and Exchange Commission.
About FuelCell Energy
FuelCell Energy (NASDAQ:FCEL) delivers efficient, affordable and clean solutions for the supply, recovery and storage of energy. We design, manufacture, undertake project development, install, operate and maintain megawatt-scale fuel cell systems, serving utilities, industrial and large municipal power users with solutions that include both utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long duration energy storage. With SureSource™ installations on three continents and millions of megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader with environmentally responsible power solutions. Visit us online at www.fuelcellenergy.com and follow us on Twitter.
SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.
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SOURCE: FuelCell Energy, Inc.