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FuelCell Energy Awarded $3.8 Million Contract by U.S. Navy to Develop Power System for Unmanned Underwater Vehicle



FuelCell Energy Awarded $3.8 Million Contract by U.S. Navy to Develop Power
System for Unmanned Underwater Vehicle

DANBURY, Conn., July 26, 2012 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc.
(Nasdaq:FCEL), a leading manufacturer of ultra-clean, efficient and reliable
fuel cell power plants, today announced a $3.8 million contract award from the
U.S. Navy to develop and test a Hybrid Solid Oxide Fuel Cell (SOFC)-Battery
power system for large displacement undersea vehicle propulsion. The objective
of the project is to develop a refuelable power system, with high energy
density, that is suitable for undertaking long duration underwater missions of
unmanned submersibles. The Hybrid SOFC-Battery system will be capable of
generating 1,800 kilowatt hours of electricity during a 70 day mission with no
exhaust discharged outside of the vehicle at any time. It will use liquid fuel
and be self-contained with no reliance on external air.

"This is a challenging and exciting project due to the unique installation and
we expect to apply knowledge gained from this project into a range of other
applications including maritime applications of fuel cells and auxiliary power
units," said Tony Leo, Vice President Application Engineering & Advanced
Technology Development, FuelCell Energy, Inc. "Developing a compact solid
oxide fuel cell balance of plant with a liquid fuel, will not only have
potential for deployment in defense-related applications, but has viability as
power systems for use in commercial underwater vehicles, marine vessels, and
remote-sites."

The FuelCell Energy Hybrid SOFC-Battery power system is attractive for
underwater vehicle applications as its high efficiency minimizes usage of both
stored fuel and oxygen in the confined spaces available onboard the
vehicle. The system achieves air independence by utilizing a unique oxygen
storage technology, maintains neutral buoyancy with no discharge of system
products and is capable of responding to the peak power demands for a typical
Large Displacement Unmanned Underwater Vehicle (LDUUV) as defined by the U.S.
Navy.

A consortium will work with the FuelCell Energy team to fulfill the program
requirements. The SOFC fuel cell stack is based on the technology developed by
Versa Power Systems, an SOFC developer that is partially owned by FuelCell
Energy. Other team partners include the Energy Systems Division of NASA's
Lyndon B. Johnson Space Center, Yardney Technical Products, Inc., Naval
Underwater Warfare Center (NUWC), and Pacific Northwest National Laboratory
(PNNL).  This diverse team has the expertise required to meet the
state-of-the-art system design, safety, and reliability of U.S. Navy
specifications.  NASA will develop the oxygen storage required by the power
system, Yardney will supply the battery technology, and PNNL will provide
compact fuel processing design knowledge.  NUWC will complement the team on a
range of topics including the logistics of systemization, integration, and
tie-ins with the balance of LDUUV systems.

This 18 month phase I award will fund development and laboratory testing of
the SOFC propulsion system. Successful performance results may lead to a phase
II award that would involve the delivery of a full scale system for testing in
an unmanned undersea vehicle.

About FuelCell Energy

Direct FuelCell® power plants are generating ultra-clean, efficient and
reliable power at more than 50 locations worldwide.  With approximately 180
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

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

FuelCell Energy Logo
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