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FuelCell Energy, Inc. (FCEL) Wins $3.8 Million Power System Contract From US Navy

|Includes: FuelCell Energy, Inc. (FCEL)

FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, schools, municipal water treatment facilities, government installation, and other customers around the world. The company's power plants have now generated more than one billion kilowatt hours of power.

The company announced today a $3.8 million contract award from the U.S. Navy to develop and test a Hybrid Solid Oxide Fuel Cell (SOFC)-Battery power system for large displacement undersea vehicle propulsion. The goal of the project is to develop a refuelable power system, with high energy density, that is suitable for undertaking long duration underwater missions of unmanned submersibles. The battery system will be capable of generating 1,800 kilowatt hours of electricity during a 70-day mission with no exhaust discharge. The battery will use liquid fuel and not be reliant on external air.

The company's Hybrid SOFC-Battery power system is perfect for underwater vehicle applications. That is because its high efficiency minimizes usage of both stored fuel and oxygen in the confined space available in such vehicles. FuelCell Energy's system achieves air independence by utilizing a unique oxygen storage technology while maintaining neutral buoyancy with no discharge of system products. It also is capable of responding to the peak power demands of a typical Large Displacement Unmanned Underwater Vehicle (LDUUV) as defined by the U.S. Navy.

This award from the U.S. Navy, an 18-month phase I award, will fund development and laboratory testing of the SOFC propulsion system. If the test results are successful, it may lead to a phase II award that would involve the delivery of full scale system for testing in an unmanned undersea vehicle.

For additional information about FuelCell Energy and its entire fuel cell product line, please visit the company's website at www.fuelcellenergy.com

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