FuelCell (FCEL) Announces Acceleration of POSCO Delivery Order

FuelCell Energy, Inc. (Nasdaq: FCEL), announced that the delivery schedule of the previously announced 70 megawatt (MW) order with POSCO Energy will be accelerated to meet growing demand in Asia for ultra-clean, efficient and reliable fuel cell power plants. Under the revised terms, an additional 1.4 MW of fuel cell kits will be delivered monthly for a total of 4.2 MW per month, beginning in July 2012. The original terms called for the delivery of 2.8 MW of fuel cell kits monthly beginning in October 2011 and through October 2013. With the acceleration of deliveries, the 70 MW order will conclude in April 2013 at which time deliveries are expected to begin under the previously announced memorandum of agreement for 120 MW of fuel cell kits.

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