FuelCell Energy (FCEL) Celebrates Earth Day; Announces Significant 12 Million MWH Generated Milestone

FuelCell Energy, Inc. (Nasdaq: FCEL) -- a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy— in celebration of Earth Day, today announced achievement of a significant clean power milestone by delivering more than 12 million megawatt hours from its SureSource™ fuel cell power platforms globally since its first commercial installation. SureSource™ plants are currently installed and operating on three continents, with many owned by leading utility companies and educational, pharmaceutical, medical, commercial, and industrial enterprises from around the world that recognize the benefit of clean, resilient, continuous power. As an example, FuelCell Energy provides value beyond power to Pfizer Inc., delivering on-site power reliability and steam for its Connecticut research and development campus. We are proud to serve Pfizer Inc. and appreciate its effort in leading the Covid-19 vaccine development. In addition, FuelCell Energy serves global utilities who are committed to decarbonizing the electricity grid. Our fuel cells are one of the most essential technologies needed to drive today’s global energy transition.

“Twelve million megawatt hours is another major milestone along FuelCell Energy’s journey to deliver its customers clean, baseload power and energy savings, improve our global atmosphere, and provide other value from our platforms such as hydrogen, water, and carbon separation,” said Jason Few, President and CEO of FuelCell Energy. “Our fuel cell platform provides differentiated clean energy solutions to meet customer’s energy needs, cost savings goals, and reduction of Scope 1, 2, and 3 emissions. Our platforms are multi-fuel capable and are designed to leverage zero-carbon solutions through the use of onsite biofuels or our carbon separation technology. FuelCell Energy’s platforms produce virtually no pollutants, with only negligible NOx, SOx and particulates that lead to dangerous air quality and public health issues.”

Jason Few continued, “Additionally, continuing FuelCell Energy’s commitment to sustainable practices, the Company is certified under the ISO 14001:2015 standard. Continued attainment of this certification demonstrates our adherence to the established environmental management system standard. Our products have the potential to significantly improve the lives of people around the world, and our actions and practices inside our Company are taken just as seriously as the solutions we provide globally.”

“Lastly, we are extremely excited about the development of new platform solutions to be added to our commercial offerings. We are working toward delivering to our customers the most complete, fuel cell-based solutions portfolio. In the future, we will be able to offer megawatt and sub-megawatt distributed generation globally, hydrogen-based energy storage, and multiple platforms that produce hydrogen (including through highly efficient electrolysis), enabling the evolving hydrogen powered transportation, power generation, and industrial sectors. In addition, our work with ExxonMobil Research and Engineering to develop large-scale carbon capture, and our commercially available proprietary SureSource Treatment™ Biogas gas cleanup system, FuelCell Energy is positioned to be a significant solutions provider in a world committed to a more sustainable future. We are extremely proud that our milestone achievements are announced in tandem with Earth Day, further cementing the value of our platforms and the power of the possibilities we can create through continued partnerships with our global stakeholders.”

While operating on biogas, SureSource™ fuel cell systems are typically classified as carbon-neutral, or in some cases carbon negative, by regulatory agencies. According to the United States Environmental Protection Agency (EPA) greenhouse gas equivalency calculations, the low-carbon, clean twelve million megawatt hours cumulatively generated from SureSource™ fuel cells in comparison to the U.S. grid is equivalent to avoiding more than one and a half million tons of CO2 and more than three thousand tons of nitrogen oxides. These are reductions equivalent to taking 320,000 cars off the road each year.

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