DANBURY, Conn., Jan. 12, 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 a recent visit by United States Senator Richard Blumenthal to the Company's North American manufacturing facility in Torrington, Connecticut, where he expressed his support for Federal programs that promote the adoption of clean power generation in a manner that fosters domestic job creation.
"Connecticut is the fuel cell capital of the world, with companies like FuelCell Energy leading the way. Key tax incentives like the Investment Tax Credit make it possible for local companies like FuelCell Energy to produce ultra-clean and efficient energy that can compete with outdated and dirty technologies. Congress needs to get out of the unfortunate habit of governing by crisis. We need to act now—not at the last minute—to provide companies the certainty they need to succeed," said Senator Richard Blumenthal.
Senator Blumenthal is encouraging the more rapid adoption of clean distributed power generation by working to extend the existing 30 percent Federal Investment Tax Credit beyond its current expiration date of December 31, 2016 and evaluating renewal of other expired energy-related tax credits.
"Our high efficiency fuel cell power plants reflect the confluence of energy, economic and environmental policies by domestically manufacturing clean distributed power generation that enhances energy security," said Chip Bottone, Chief Executive Officer, FuelCell Energy, Inc. "Continuation of the Federal Investment Tax Credit supports the adoption of our solutions as project investors in our multi-megawatt installations require certainty about economic returns and longer term programs provide this needed assurance."
Earlier this month, Senator Blumenthal expressed his support for extending energy tax credits at the future site of a utility owned renewable energy park consisting of a FuelCell Energy power plant and a solar array in Bridgeport, Connecticut. Bridgeport Mayor Finch also spoke, explaining how clean distributed power generation supports economic policy through job creation while improving the environment and enhancing the resiliency of energy supply. Click here for City of Bridgeport press release.
Fuel cell power plants generate electricity and heat cleanly and efficiently. Utilizing an electro-chemical process, power is generated in a manner that is virtually absent of criteria pollutants including nitrogen oxide (NOx) that causes smog, sulfur dioxide (SOx) that contributes to acid rain, and particulate matter (PM10) that can aggravate asthma. Additionally, the high efficiency of the power generation minimizes carbon emissions.
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About FuelCell Energy
Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company's power plants have generated more than three billion kilowatt hours of ultra-clean power using a variety of fuels including clean natural gas as well as renewable biogas from wastewater treatment and food processing. For more information, please visit www.fuelcellenergy.com
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Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.
CONTACT: FuelCell Energy, Inc. Kurt Goddard, Vice President Investor Relations 203-830-7494 firstname.lastname@example.org
Source:FuelCell Energy, Inc.