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Company Description

Contact Info

3 Great Pasture Road

Danbury, CT 06810

United States

Phone: 203-825-6000

Fax:

al plant operators for the first installation of a carbon capture configured DFC3000 power plant. Distributed Hydrogen: The DFC fuel cells internally reform the fuel source (natural gas or biogas) to obtain hydrogen. DFC plants could be configured for tri-generation, supplying power, heat, and hydrogen. Markets The company has two primary markets for its products. The first is Ultra-Clean Power consisting of the company’s products operating on clean natural gas or directed biogas across seven vertical markets. The second primary market is Renewable Power with its products operating on renewable biogas across four vertical markets. These are summarized as follows: Ultra-Clean Power Markets: These markets include utilities and independent power producers (IPPs); 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 For the year ended October 31, 2015, the company’s major customers, POSCO Energy Co., LTD. (POSCO Energy); The United Illuminating Company; Dominion Bridgeport Fuel Cell, LLC; Department of Energy; Pepperidge Farms; and NRG Energy, Inc. (NRG Energy), accounted for an aggregate of 94% of the company’s total annual consolidated revenue. Strategic Alliances NRG Energy: The company has a teaming and co-marketing agreement with NRG Energy, including both direct sales to NRG Energy customers in North America, as well as sales to NRG Energy, who would own the fuel cell power plants and sell the power and heat to the end user under power purchase agreements. NRG Energy is the major IPP in the U.S. with approximately 50,000 MWs of generation capacity and approximately 3 million retail and commercial customers. The company is marketing with NRG Energy to their existing customer base. POSCO Energy: The company partners with POSCO Energy, an IPP and a subsidiary of South Korean-based POSCO. POSCO Energy has experience in power plant project development, owning and operating power plants in multiple countries and is the major IPP in South Korea. POSCO Energy is a licensed manufacturer for Asia of the company’s products and collaborates with the company on various market and product development initiatives. The Fraunhofer Institute for Ceramic Technologies and Systems (Fraunhofer) IKTS: The Fraunhofer IKTS is the minority shareholder in the company’s subsidiary, FuelCell Energy Solutions, GmbH. Fraunhofer IKTS is a major 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 FuelCell Energy Solutions, GmbH. E.ON Connecting Energies GmbH: During 2015, the company executed a project development agreement with E.ON Connecting Energies GmbH to offer decentralized CHP solutions with MW and multi-MW fuel cell power plants to EON’s existing and prospective customer base, through a power purchase agreement financing or leasing structure. E.ON would own the power plant and FuelCell Energy Solutions, GmbH would install, operate and maintain the plant under a long-term service agreement. Proprietary Rights and Licensed Technology As of October 31, 2015, the company, excluding its subsidiaries, had 93 patents in the U.S. and 94 patent in other jurisdictions covering its fuel cell technology (in certain cases covering the same technology in multiple jurisdictions), with patents directed to various aspects of its Direct FuelCell technology, SOFC (Solid Oxide Fuel Cell) technology, proton exchange membrane fuel cell technology, and applications thereof. The company also had 10 patent applications pending in the U.S. and 56 pending in other jurisdictions. The company’s U.S. patents would expire between 2016 and 2033, and the average remaining life of its U.S. patents is approximately 10.2 years. The company’s subsidiary, Versa Power Systems, Inc., has 30 U.S. patents and 73 international patents covering their SOFC technology (in certain cases covering the same technol

 

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