FuelCell Energy, Inc., an integrated fuel cell company, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. Products The company’s plants operate in approximately 50 locations worldwide in 9 countries and have generated approximately 2 billion kilowatt hours (kWh) of electricity. The company provides turn-key power generation solutions to customers, including installation of the power plants, as well as operating and maintaining the plants under multi-year service agreements. It targets large-scale power users with megawatt-class installations. The company’s core fuel cell products (Direct FuelCell or DFC power plants) offer baseload power generation for customers, including the 2.8 MW DFC3000, the 1.4 MW DFC1500 and the 300 kW DFC300. Its target customers are large power users with baseload power needs that support approximately a 1.4 MW power plant. The plants are scalable for multi-megawatt utility scale applications or on-site power generation for large institutions and industrial applications. The company also markets multi-megawatt DFC-ERG (Direct FuelCell Energy Recovery Generation) power plants for use in natural gas pipeline applications and DFC/Turbine power plants for large-load users. The company’s DFC power plants are able to operate 24 hours per day, 7 days per week providing continuous power to both on-site customers and grid-support applications. Its DFC power plants can be part of a total on-site power generation solution with products providing continuous baseload power. The company’s power plants can be combined with intermittent power generation, such as solar or wind, or less efficient combustion-based equipment that provides peaking or load following power. Markets The company has two primary markets for products. The first is Ultra-Clean Power. This market consists of DFC power plants operating on clean natural gas across seven vertical markets. The second primary market is Renewable Power. This market includes DFC power plants operating on renewable biogas across four vertical markets. Ultra-Clean Power Markets: These markets include utilities and independent power producers (IPP), education and healthcare, gas transmission, industrial and data centers, commercial and hospitality, oil production and refining, and government. The company’s partner in South Korea is POSCO Energy Co, LTD. (POSCO Energy), a subsidiary of South Korean-based POSCO. The company’s DFC power plants produce power for various commercial, industrial, municipal and government customers, including food processing plants, universities, government buildings, hotels and military installations. Its renewable power markets include wastewater, food and beverage, agriculture, and landfill gas. In other renewable power vertical markets, the company's DFC power plants are using renewable biogas to produce ultra-clean power for food and beverage processing plants and a demonstration plant is being installed at a landfill in Vancouver, Canada to convert the landfill gas into multiple value streams, including electricity, heat and hydrogen suitable for vehicle fueling or industrial purposes. The DFC plants can utilize either renewable biogas generated by the customer on-site or directed biogas, generated at a distant location and transported through the existing gas distribution network. Business Strategy The company’s business strategy is to expand key geographic and vertical markets. Strategic Alliances POSCO Energy: The company partners with POSCO Energy, an IPP. Fraunhofer IKTS (Fraunhofer): The company announced a partnership with The Fraunhofer Institute for Ceramic Technologies and Systems IKTS in 2012. Fraunhofer has research centers and representative offices in Europe, USA, Asia and the Middle East, and approximately 80 research units, including 60 Fraunhofer Institutes, at different locations in Germany. Enbridge, Inc.: The company has a market development relationship with Canada-based Enbridge, Inc., a company in energy transportation and distribution for the market development and deployment of the DFC-ERG power plant. Abengoa: The company announced a partnership in 2012 with Spanish-based Abengoa, a multi-national company focused on renewable power generation, desalination and recycling. Under the partnership, Abengoa would develop and market stationary fuel cell power plants using fuel cell modules provided by the company. NRG Energy: The company entered into a teaming and co-marketing agreement with NRG Energy in September 2013. Customers The company’s customer base includes electric utility companies, municipalities, universities, government entities and businesses in various commercial and industrial enterprises. Its geographic markets are South Korea and the United States. The company’s customers include POSCO Energy; Dominion Bridgeport Fuel Cell, LLC; and Department of Energy. Proprietary Rights The company has 86 U.S. patents and 63 international patents covering fuel cell technology (in certain cases covering the same technology in multiple jurisdictions). 82 of its U.S. patents relate to Direct FuelCell technology, 1 patent relates to SOFC technology and 3 patents relate to PEM fuel cell technology. The company also has submitted 20 U.S. and 77 international patent applications. In addition, the company’s subsidiary, Versa Power Systems, Inc., has 28 U.S. patents and 111 international patents covering their SOFC technology (in certain cases covering the same technology in multiple jurisdictions). Versa Power Systems, Inc. also has submitted 9 U.S. and 87 international patent applications. In addition, FuelCell Energy Solutions, GmbH has license rights to use the company's carbonate fuel cell technology, as well as 10 U.S. and 138 international patents for carbonate fuel cell technology licensed from its co-owner, Fraunhofer IKTS. Competition The company’s competitors include Caterpillar, Cummins, Wartsilla, MTU Friedrichshafen GmbH, Mitsubishi Heavy Industries and Detroit Diesel. History FuelCell Energy, Inc. was founded in 1969. The company was reincorporated in Delaware in 1999.
fuelcell energy inc (FEY:Frankfurt)
3 Great Pasture Road
Danbury, CT 06813
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