FuelCell Energy Applauds Issuance of Executive Order for Sustainability Planning by the U.S. Federal Government
April 02 2015 - 8:30AM
- Recently issued Executive Order 13693 – Planning for Federal
Sustainability in the Next Decade - supports Federal Government
adoption of fuel cells, with a broad range of applications
including carbon capture configurations
- Recognition of low carbon profile, continuous power generation,
and favorable environmental aspects of stationary fuel cell power
plants
- Fuel cell projects attract private capital enabling a
pay-as-you-go approach for Federal agencies, with the existing
Business Energy Investment Tax Credit supporting private capital to
provide public benefits
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, applauds the sustainability
leadership of the U.S. Federal Government with the recent executive
order titled "Planning for Federal Sustainability in the Next
Decade" that directs executive departments and agencies, including
the Department of Defense, to undertake actions that will reduce
greenhouse gas emissions by at least 40 percent over the next
decade while at the same time fostering innovation, reducing
spending, and strengthening the clean energy economy. The high
efficiency of fuel cells combined with the virtual lack of
pollutants from the power generation process is recognized with
their inclusion for meeting the minimum required percentages of
sustainable electric and thermal energy under the Order as well as
the greenhouse gas reduction requirements.
"Using clean sources of on-site power generation like fuel cells
in federal facilities is a win for the environment, a win for
taxpayers and a win for the economy," said Senator Richard
Blumenthal. "Cleaner air and lower operating costs make fuel cells
a very viable option and I am proud of Fuel Cell Energy's
commitment to growing this critical industry here in
Connecticut."
"Environmental leadership combined with recognition of the value
and importance of the clean energy economy is exemplified in the
careful crafting of this sustainability Executive Order," said Chip
Bottone, Chief Executive Officer, FuelCell Energy, Inc. "Efficient
and affordable FuelCell Energy power plants, designed and built in
America, address the environmental concerns highlighted by this
Order while supporting domestic economic development. Additionally,
private capital is attracted to the compelling financial returns of
fuel cell projects, which is further supported by the Business
Energy Investment Tax Credit."
Ultra-clean on-site fuel cell power delivered predictably and
with high availability is weighted favorably under this Order
compared to intermittent renewable power resources that are
dependent on weather and time of day, resulting in substantially
lower availability and predictability.
The Order establishes sustainability goals for the use of clean
and renewable energy with the following minimum percentages for
Federal facilities use of electric and thermal energy:
- not less than 10 percent in fiscal years 2016 and 2017;
- not less than 13 percent in fiscal years 2018 and 2019;
- not less than 16 percent in fiscal years 2020 and 2021;
- not less than 20 percent in fiscal years 2022 and 2023;
and
- not less than 25 percent by fiscal year 2025 and each year
thereafter
"An additional benefit that our solutions can offer power users
and society at large is a carbon capture configuration that
generates ultra-clean power and heat from natural gas resulting in
zero greenhouse gas emissions," continued Mr. Bottone.
The FuelCell Energy technology efficiently separates and
concentrates CO2 as a side reaction during the power generation
process. The CO2 can then be cooled and condensed, using
commercially available absorption chilling technology and either
used for commercial purposes or sequestered. Whether on-site power
generation applications or supporting an existing coal or gas-fired
power plant, the carbon capture fuel cell solution is an affordable
approach utilizing commercially available Direct FuelCells® (DFC®)
manufactured in America by FuelCell Energy.
Multi-megawatt fuel cell installations solve power generation
challenges as the combination of near-zero pollutants, modest
land-use needs, and the quiet operating nature of fuel cell power
plants facilitates their siting in high density areas with limited
or expensive real estate. Fuel cell installations offer a multitude
of advantages for power users and neighboring communities,
including:
- Environmentally friendly power generation with virtually zero
nitrogen oxide (NOx) that causes smog, sulfur dioxide (SOx) that
contributes to acid rain, or particulate matter that aggravates
asthma, and the power is delivered with a low carbon footprint, or
even zero carbon emissions when configured for carbon capture
- Distributed power generation places power near where it is
used, enhancing the resiliency of the electric grid
- Highly efficient power generation process that is
economical
- Continuous renewable power around the clock that is not reliant
on weather or time of day
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 3
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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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
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