FuelCell Energy Applauds Creation of Fraunhofer Center for Energy Innovation at University of Connecticut

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DANBURY, Conn., Aug. 1, 2013 (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, commends the creation of the Fraunhofer Center for Energy Innovation (CEI) at the University of Connecticut, which was recently announced by Fraunhofer USA Inc., the State of Connecticut and the University. Fraunhofer CEI will focus on research, development and commercialization of highly efficient and cost effective energy conversion systems.

"The Fraunhofer relationship with Connecticut-based FuelCell Energy was instrumental in establishing the recently announced Fraunhofer Center for Energy Innovation at the University of Connecticut," said Prof. Dr. Alexander Michaelis, director, Fraunhofer IKTS. "We are working closely with our joint venture partner FuelCell Energy through one of our German institutes, and we will be closely coordinating with this new institute at the University of Connecticut for our fuel cell research."

FuelCell Energy, Inc. (FCE) and Fraunhofer IKTS are partners in a German-based joint venture that is expanding the market in Europe for highly efficient and environmentally friendly stationary fuel cell power plants. The joint venture, FuelCell Energy Solutions, GmbH (FCES), with manufacturing in Ottobrun, Germany and headquarters in Dresden Germany, has customers in multiple European countries. FuelCell Energy is contributing technology and market development resources to the joint venture and Fraunhofer IKTS is contributing applied fuel cell research expertise and supporting market development.

"The Fraunhofer organization provides world-renowned applied research capabilities and we are pleased to see increasing emphasis on fuel cell research by Fraunhofer IKTS, now in both Germany and the USA," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. "Our relationship with Fraunhofer IKTS enables us to leverage our internal research and development resources as well as gain further market recognition."

Fuel cells electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. The stationary fuel cell power plants manufactured and sold by both FCE and FCES are fuel flexible, capable of operating on natural gas, on-site renewable biogas, or directed biogas. The power plants provide continuous baseload power and can be sited where the power is used, including both on-site applications and electric grid support. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of these stationary fuel cell power plants facilitates their establishment in urban locations.

Founded in 1949, Fraunhofer is Europe's largest application-oriented research organization with an annual research budget of €1.9 billion (approximately $2.5 billion) and more than 22,000 staff, primarily scientists and engineers. Fraunhofer has research centers and representative offices in Europe, USA, Asia and the Middle East, and 66 Fraunhofer Institutes and research units at different locations in Germany. The Fraunhofer IKTS with its staff of 400 highly educated engineers, scientists and technicians is a world leading institute in the field of advanced ceramics for high tech applications. The primary markets for IKTS include energy and environmental technology with a focus on fuel cell development and commercialization.

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 1.7 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 www.fuelcellenergy.com

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CONTACT: FuelCell Energy, Inc. Kurt Goddard, Vice President Investor Relations 203-830-7494 ir@fce.com

Source:FuelCell Energy, Inc.