FuelCell Energy, Inc. (Nasdaq:FCEL), has signed a $6.4 million cost shared cooperative agreement with the U.S. Department of Energy (DOE) to continue research and development on a demonstration sub-megawatt SOFC power plant.
"We have a multi-faceted strategy for the commercialization of our solid oxide fuel cell technology including future coal syngas opportunities under a U.S. Department of Energy program as well as adjacent market opportunities to our existing markets including sub megawatt commercial building and wastewater treatment plant applications," said Chip Bottone, President and Chief Executive Officer. "We are evaluating potential partnerships for the commercialization of the technology including discussions with organizations in North America, Asia and Europe."
"We believe our technology is well suited for the market with industry-leading electrical efficiency of approximately 60 percent plus usable heat for combined heat and power applications, resulting in total estimated efficiency between 80 and 85 percent. The technology is also fuel flexible, with the ability to utilize coal syngas, clean natural gas, on-site renewable biogas or directed biogas," said Tony Leo, Vice President Application Engineering & Advanced Technology Development, FuelCell Energy, Inc. "We have increased the size and power density of the individual fuel cells, which is critical to high volume manufacturing of an economically competitive product as we enhance the technology and prepare for commercialization."...
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