FuelCell Energy Announces Sale of a Stationary Fuel Cell Power Plant to Cleanly and Efficiently Power a London Office Tower

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DANBURY, Conn., Dec. 4, 2012 (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 that FuelCell Energy Solutions, GmbH has sold a stationary fuel cell power plant for installation at the 20 Fenchurch office development in London, England. The ultra-clean and efficient power generation profile of the fuel cells will facilitate clean air permitting and support London's carbon reduction targets. FuelCell Energy Solutions (FCES) will manufacture the power plant. Under a service contract, FCES will also operate and maintain the power plant from a European-based operations center that is staffed 24 hours a day, seven days a week.

The 38 story, 690,000 square foot office building is being developed by Canary Wharf Group, PLC and Land Securities PLC. The building utilizes a distinctive design that widens as the height increases, providing a smaller footprint and correspondingly larger public space at street level and additional floor space for lease on the upper floors. The Direct FuelCell® (DFC®) power plant will provide electricity and heat in a combined heat and power (CHP) configuration with high temperature heat provided to an absorption chiller for cooling and lower temperature heat for facility and hot water heating. The fuel cell will provide an electrical output of 300 kilowatts (kW), which is adequate to power almost 800 average sized UK households and thermal output of more than 300 kW.

"The high efficiency of the stationary fuel cell power plant is very important for this building, from both an economical as well as sustainability viewpoint," said Paul Mutti Executive Director Canary Wharf Contractors Ltd. "The design and construction of the building incorporates the latest advances in efficiency and conservation to minimize the building's environmental impact, including re-use of the demolition material from the prior building, utilization of solar shading and window glazing that conserves energy, and the fuel cell power plant that economically generates both electricity and heat with virtually no emissions."

"The fuel cell power plant is at the heart of the building's sustainability strategy and will be the first installation of its type in the City of London's Square Mile," commented Neil Pennell, Head of Sustainability and Engineering, Land Securities. "Having the opportunity to run the plant on a day-to-day basis in this landmark building will provide us with a great insight into the future potential of this technology to reduce carbon emissions and virtually eliminate the emission of pollutants in commercial office building applications."

The DFC power plant supports the targets established by the Mayor of London to supply one quarter of London's energy from decentralized sources and reduce carbon dioxide (CO2) emissions by 60 percent by 2025, supporting the Mayor's vision for London to be the greenest, big city in the world. Over one year of power production, the fuel cell power plant will prevent the emission of more than 40,000 pounds of pollutants including nitrogen oxide (NOx), sulfur dioxide (SOx) and particulate matter (PM) compared to conventional combustion-based power generation, which is equivalent to removing 340 cars from the road. The high efficiency of the fuel cell power generation process reduces CO2 emissions compared to combustion-based power generation and the combined heat and power (CHP) configuration further drives efficiency. The power plant will prevent the emission of 1,800 tons of CO2 over the course of one year when compared to conventional combustion-based power generation, which is equivalent to removing 325 cars from the road.

"This marquee location in central London illustrates the advantages of on-site fuel cell power generation that efficiently generates power in an environmentally friendly process," said Chip Bottone, President and Chief Executive Officer FuelCell Energy, Inc. and Managing Director, FuelCell Energy Solutions, GmbH. "This power plant is a European solution for providing ultra-clean distributed power generation as it utilizes European design and content along with a European based service organization."

FCES, with its German manufacturing base, is the sales, manufacturing and service business for the European Served Area for FuelCell Energy, Inc. FCES is a joint venture between Fraunhofer IKTS and FuelCell Energy, Inc.

The DFC300-EU will be installed within the office building as the quiet operation and virtual lack of pollutants from fuel cells is well-suited for populated areas. The power generation process of the fuel cell uses an electrochemical reaction rather than combustion, which very efficiently converts fuel into clean electricity and heat suitable for generating steam. Due to the lack of combustion, the fuel cells generate power that is virtually absent of pollutants. This electrochemical power generation process is quiet and free of vibrations, allowing for a normal conversational tone next to an operating fuel cell.

Generating both electricity and heat from the same unit of fuel reduces fuel costs and drives efficiency. Fuel cells can achieve up to 90 percent efficiency when the heat is utilized in a CHP configuration. The heat for this fuel cell installation will be used for facility heating and cooling, resulting in maximum fuel efficiency and cost savings with an estimated overall efficiency above 85 percent. The fuel cell power plant will be installed in 2013 and commissioned for the building completion in 2014.

About FuelCell Energy Solutions, GmbH

FuelCell Energy Solutions develops, manufactures, sells, installs, services and operate stationary fuel cell power plants that efficiently and economically generate electricity and usable high quality heat. Administrative offices are located in Dresden, Germany and manufacturing operations are located in Ottobrunn, Germany. Continuous power generated at the point of use with the virtual absence of pollutants supports energy security and power reliability as well as sustainability initiatives. Ultra-Clean baseload distributed generation is attractive to electric utilities, universities, hospitals, government facilities, industrial operations and other locations with significant power needs. Direct FuelCell® (DFC®) power plants are fuel flexible, capable of operating on clean natural gas or renewable biogas. For more information please visit our website at www.fces.de

The FuelCell Energy Solutions logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13430

About FuelCell Energy, Inc.

Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With approximately 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 one billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information please visit our website at www.fuelcellenergy.com

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The FuelCell Energy, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3284

This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and the Company's ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.

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 ir@fce.com

Source:FuelCell Energy, Inc.