FuelCell Energy Announces Project Development Agreement With E.ON Connecting Energies GmbH and First European Megawatt Stationary Fuel Cell Power Plant Sale in Europe

By | July 30, 2015

DANBURY, Conn., July 30, 2015 (GLOBE NEWSWIRE) —  FuelCell Energy, Inc. (NASDAQ: FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced an agreement between its affiliate FuelCell Energy Solutions, GmbH (FCES) andE.ON Connecting Energies GmbH to offer decentralized combined heat and power (CHP) solutions with megawatt (MW) and multi-megawatt Direct FuelCell® (DFC®) power plants to its existing and prospective customer base, via a power purchase agreement financing or leasing structure.  FuelCell Energy Solutions GmbH is a provider of ultra-clean, efficient and reliable fuel cell power plants in the European Served Area.  E.ON Connecting Energies bundles E.ON’s solutions business in decentralized energy and energy efficiency, serving industrial, commercial and public-sector customers.

The agreement commences with the sale of a 1.4 MW plant in Europe at the German headquarters and production facility of FRIATEC AG in Mannheim.  FRIATEC will host the plant, and benefit from ultra-clean, efficient and reliable power and high quality heat along with a reduction of power costs and enhanced energy security.  E.ON will own the power plant and FuelCell Energy Solutions will install, operate and maintain the plant under a long-term service agreement.

Robert Hienz, CEO of E.ON Connecting Energies, commented: “With this partnership, we are delighted to install the first commercial MW-class fuel cell in Europe in an industrial environment. This case shows how high-efficiency technologies can grow, mature and serve real customer needs, such as reducing CO2 emissions by around 25 percent, and significantly cut energy cost as a production factor.”

The 1.4 MW power plant installation at FRIATEC will meet approximately 60 percent of the power needs of the manufacturing operations.  The high quality heat from the power plant will be supplied to the existing on-site heating grid to be used at multiple production areas within the facility.