FuelCell Energy, Inc., an integrated fuel cell company, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company’s power plants provide megawatt (MW) class scalable on-site power and utility grid support, helping customers solve their energy, environmental and business challenges. The company’s plants are operating in approximately 50 locations in 9 countries on 3 different continents and have generated approximately 3 billion kilowatt hours (kWh) of electricity. The company provides comprehensive turn-key power generation solutions to its customers, including power plant installations, as well as power plant operation and maintenance under multi-year service agreements. The company targets large-scale power users with its megawatt-class installations. Products The company’s core fuel cell products (Direct FuelCell or DFC power plants) offer ultra-clean power generation for customers, including the 2.8 MW DFC3000, the 1.4 MW DFC1500 and the 300 kW DFC300. The plants are scalable for multi-megawatt utility scale applications or on-site combined heat and power generation for a range of applications. The company also markets higher efficiency solutions to meet specific market needs as follows: DFC-ERG (Direct FuelCell Energy Recovery Generation): The DFC-ERG power plants are for use in natural gas pipeline applications, harnessing energy that is otherwise lost during the station’s natural gas pressure-reduction (letdown) process. HEFC (High Efficiency Fuel Cell): The HEFC system is configured with a series of fuel cell modules that operate in sequence, yielding a higher electrical efficiency than the standard DFC configuration by utilizing heat energy to generate additional electricity. The HEFC system is targeted at applications with large load requirements and limited waste heat utilization, such as utility/grid support or data centers. The DFC product line is a platform based on carbonate fuel cell technology. The company’s power plants utilize various available fuels to produce electricity electrochemically, in a process that is quiet, and due to the avoidance of combustion, produces virtually no pollutants. Proprietary Rights and Licensed Technology As of October 31, 2014, the company, excluding its subsidiaries has 89 U.S. patents and 65 international patents covering its fuel cell technology. The company also has submitted 11 U.S. and 66 international patent applications. The company’s subsidiary, Versa Power Systems, Inc., has 27 U.S. patents and 52 international patents covering their Solid Oxide Fuel Cell (SOFC) technology, with an average remaining U.S. patent life of approximately 9.4 years. Versa Power Systems, Inc. also has submitted 7 U.S. and 12 international patent applications. In addition, its subsidiary FuelCell Energy Solutions, GmbH has license rights to use FuelCell Energy's carbonate fuel cell technology, as well as 8 U.S. and 136 international patents for carbonate fuel cell technology licensed from its co-owner, Fraunhofer IKTS. Strategic Alliances NRG Energy: The company entered into a teaming and co-marketing agreement with NRG Energy in 2013. NRG Energy is an Independent Power Producer (IPP) in the U.S. with approximately 53,000 megawatts of generation capacity. POSCO Energy Co., LTD. (POSCO Energy): The company has a partnership with POSCO Energy, a subsidiary of South Korean-based POSCO. POSCO Energy owns and operates power plants in multiple countries. Fraunhofer IKTS: The Fraunhofer Institute for Ceramic Technologies and Systems IKTS is the minority shareholder in FuelCell Energy Solutions, GmbH (FCES). Fraunhofer IKTS is an institute in the field of advanced ceramics for high tech applications, including fuel cells. Fraunhofer IKTS contributed proprietary carbonate fuel cell technology and patents to FCES. Markets The company has two primary markets for its products. The first is Ultra-Clean Power consisting of products operating on clean natural gas or directed biogas across seven distinct and diversified vertical markets. The second primary market is Renewable Power with products operating on renewable biogas across four distinct and diversified vertical markets. These are as follows: Ultra-Clean Power markets: These markets include utilities and independent power producers; education and healthcare; gas transmission; industrial and data centers; commercial and hospitality; oil production and refining; and government. Renewable Power markets: These markets include wastewater, food and beverage, agriculture, and landfill gas. Customers The company’s customer base includes utility companies, municipalities, universities, government entities and various industrial and commercial enterprises. The company’s geographic markets are South Korea and the United States. Its customers include POSCO Energy; The United Illuminating Company; Dominion Bridgeport Fuel Cell, LLC; Department of Energy; and NRG Energy. History FuelCell Energy, Inc. was founded in 1969.
fuelcell energy inc
(FCEL:Consolidated Issue listed on NASDAQ Global Market)
3 Great Pasture Road
Danbury, CT 06810
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