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  • FuelCell Energy, Inc. (FCEL) Awarded $6 Million Contract From US Department Of Energy 0 comments
    Oct 3, 2012 2:12 PM | about stocks: FCEL

    FuelCell Energy is a global leader in the design, manufacture, and service of ultra-clean, efficient, and reliable fuel cell power plants. The company's client list includes utilities, industrial operations, and various government facilities around the globe. Its power plants to date have generated more than one billion kilowatt hours of ultra-clean power.

    The company today announced a $6 million cost share award from the U.S. Department of Energy to continue existing research and development under phase III of the Solid State Energy Conversion Alliance (SECA) coal-based systems program. The term of the award is one year and under the SECA program's cost share parameters, the Department of Energy will fund 70% of the total, or $4.2 million.

    The SECA program is a collaboration between the federal government, private industry, and academia to develop megawatt-class solid oxide fuel cell power plants to efficiently and cleanly generate electricity from coal syngas. The objective of the award to FuelCell Energy is to further enhance the performance and endurance of the SOFC stack through continued cell materials research and testing of a 60 kilowatt SOFC power plant connected to the electric grid at the company's Danbury, Connecticut, facility.

    The results of these tests will be utilized in the design of a scalable 60 kilowatt SOFC power plant with extended capabilities for combined heat and power applications. The key attribute of the SOFC module is its fuel flexibility, capable of operating on a variety of fuels including coal syngas, natural gas, and biogas. FuelCell Energy believes this technology can provide an industry-leading electrical efficiency of about 60% and still provide usable heat, resulting in total estimated thermal efficiency of between 80% and 85%.

    For additional information about FuelCell Energy and its technologies, please visit the company's website at www.fuelcellenergy.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: FCEL
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