FuelCell Energy Announces Strengthening of Strategic Relationship With POSCO Energy Supporting Global Market Development and

FuelCell Energy Announces Strengthening of Strategic Relationship With POSCO
Energy Supporting Global Market Development and Product Cost Reductions

  *Collaboration on development of global customer opportunities
  *Integrated global supply chain agreement enhances reliability of supply
    and supports product cost reductions
  *FuelCell Energy sells 5.6 megawatts of fuel cell modules to POSCO Energy
    to meet growing Asian demand

DANBURY, Conn., May 13, 2014 (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,
announced further steps to accommodate the increasing global demand for
megawatt-class stationary fuel cell power plants, ensuring preeminent customer
support around the world as well as enhanced execution of product cost
reductions.FuelCell Energy and POSCO Energy are collaborating to support
multi-national customers expressing interest in fuel cell projects in the
other partner's territory, are further synchronizing the integrated global
supply chain, and executing the sale of four fuel cell modules, totaling 5.6
megawatts to meet rising demand in Asia.

"Even closer collaboration between POSCO Energy and FuelCell Energy ensures
that our respective customers receive the enhanced value and security for
their investment as we reduce costs and further enhance the overall
competitiveness of clean distributed fuel cell power generation," said
Jung-Gon Kim, Senior Vice President of POSCO Energy.

Increasing interest in stationary fuel cell applications in different
geographic regions from companies with global operations has led to the
broadening of activities between FuelCell Energy and POSCO Energy.Enhanced
collaboration accommodates North American, European or other non-Asian
customers of FuelCell Energy that are interested in a fuel cell installation
in Asia as well as Asian customers of POSCO Energy that desire a fuel cell
installation outside of Asia.With growing global adoption of Direct
FuelCell^® power plants, trends to larger-sized fuel cell parks, and
cross-territorial interest from multi-national customers, FuelCell Energy and
POSCO Energy can support global customers in each other's local market to
ensure consistency of communication, quality and execution.

The construction of the POSCO Energy cell manufacturing facility is on
schedule with production expected in mid-2015.Once operational, this facility
will double the global manufacturing capacity of FuelCell Energy's proprietary
power plants.

The integrated global supply chain agreement reaffirms the global supply chain
alignment, which is critical for expected product cost reductions.Decreasing
product costs supports further market adoption as well as margin
expansion.The combined purchasing volume of both organizations results in
both partners benefitting from purchases by each other through lower product
costs.By leveraging the existing supply advantages of both companies,
including POSCO's steel manufacturing capabilities and mining operations,
FuelCell Energy will realize enhanced security of supply and increasing
production volumes in any one region benefits both partners with lower product
costs globally.

"The relationship we have with POSCO Energy is a differentiator in the fuel
cell industry as we work together to continue to grow the market while further
driving down product costs and improving project financial returns," said Chip
Bottone, President and CEO of FuelCell Energy."As a leading global steel
manufacturer, POSCO's investment in market development, manufacturing
capacity, and partial ownership in FuelCell Energy are additional points of
validation for our affordable, ultra-clean, and secure power generation
solutions while manufacturing in more than one location mitigates risk for the
customer base."

During the second quarter of 2014, FuelCell Energy sold four fuel cell modules
totaling 5.6 megawatts to POSCO Energy.These modules are in addition to the
monthly fuel cell kit shipments under an existing 122 megawatt order.This
second quarter 2014 5.6 megawatt module purchase, as well as the previously
announced first quarter 2014 2.8 megawatt module purchase, will both support
new installations thatPOSCO is completing this calendar year for its
customers in Korea.

"The timing of these module orders supports specific projects in Asia as the
ability to construct multi-megawatt fuel cell parks in short time frames of
about a year is a differentiator in the power generation market and the short
construction period helps to minimize capital costs," continued Mr.
Bottone."The ability to rapidly construct a fuel cell park of ten to sixty
megawatts enables utilities to add clean baseload power where they need it
within their service territory while avoiding the cost and permitting
challenges of transmission lines."

POSCO Energy is a wholly owned subsidiary of POSCO, a leading global steel
producer headquartered in Pohang, South Korea. POSCO Energy is an independent
power producer with power generation assets in South Korea that provide power
to POSCO and to the electric grid. POSCO Energy owns more than 3,000
megawatts of power generation includinggeneration assets in Southeast Asian
countries including Indonesia and Vietnam, as well as a solar park in Nevada,
USA.POSCO Energy 2013 sales totaled $2.8 billion supported by total capital
of $1.5 billion. The parent, POSCO, is publicly traded on the Korean Stock
Exchange under the symbol 005490 and on the New York Stock Exchange under the
symbol PKX.

Multi-megawatt fuel cell parks solve power generation challenges for utilities
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
urban locations.Fuel cell parks offer a multitude of advantages for utilities
and neighboring communities, including:

  *Environmentally friendly power generation with virtually zero nitrogen
    oxide (NO[x]) that causes smog, sulfur dioxide (SO[x]) that contributes to
    acid rain, or particulate matter (PM^10) that aggravates asthma, and the
    power is delivered with a low carbon footprint
  *Distributed power generation places power near where it is used, enhancing
    the resiliency of the 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

DFC^® power plants utilize carbonate fuel cell technology, which is well
suited for megawatt-class applications due to the scalability and favorable
cost profile. Another advantageis that carbonate cells operate efficiently
without the need for noble metal catalysts, such as platinum, which are
required by some other types of fuel cell technology.

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 two 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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