FuelCell Energy Announces Service Agreement Renewals

29 May 2012

FuelCell Energy, Inc. has announced the extension of service agreements with four existing customers for terms up to fifteen years. The Direct FuelCell® (DFC®) power plants are owned by the customers and under the service agreements, FuelCell Energy will continue to operate and maintain the plants. The total value of the service agreements is approximately $15 million. Three different fuel cell markets are represented by these customers including education, municipal wastewater treatment, and food processing.

"A fundamental cornerstone of our business model is keeping our customers satisfied, which generates growth in our Services business," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. "By having FuelCell Energy responsible for the operation and maintenance of the power plants, our customers can concentrate on their core competencies."

FuelCell Energy offers a comprehensive portfolio of services for fuel cell power plants and ancillary equipment with service agreements ranging from one to 20 years in duration.  Technicians and engineers remotely operate and maintain the Direct FuelCell power plants globally, 24 hours per day, 365 days per year from the state-of-the-art Global Technical Assistance Center, located at the Company's Danbury, Connecticut headquarters. Field service technicians directly employed by FuelCell Energy service the power plants on-site.

DFC fuel cell power plants electrochemically convert a fuel source into electricity and heat in a highly efficient process. The plants are fuel flexible, capable of operating on natural gas or renewable biogas. Efficiency of up to 90% can be achieved when the plant is configured for combined heat and power (CHP). High efficiency reduces fuel costs and carbon emissions, and producing both electricity and heat from the same unit of fuel can reduce the use of combustion-based boilers used for heating, further reducing costs and pollutants.

Source: FuelCell Energy


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