German Government Supports Advancement of Clean and Efficient Fuel Cells With 4.9 Million Euros in Research Awards

FuelCell Energy Solutions GmbH and joint-venture partner Fraunhofer IKTS to further enhance performance of stationary fuel cell power plants

DRESDEN, Germany, July 22, 2014 (GLOBE NEWSWIRE) -- FuelCell Energy Solutions GmbH (FCES), which manufactures, sells, operates and services ultra-clean, efficient and reliable fuel cell power plants, announced the issuance of nearly €5 million in awards by Germany's Federal Ministry for Economic Affairs and Energy to support a three year research and development project between FCES and joint venture partner Fraunhofer IKTS. The project targets further enhancements to the Direct FuelCell® (DFC®) technology by increasing power density and operating life of the fuel cells, leading to lower costs. The research is being performed in Germany by FCES at an existing facility in Ottobrunn and by Fraunhofer IKTS at a facility located in Dresden. "Fraunhofer IKTS continues to undertake fuel cell research in recognition that the attributes of high efficiency, virtual lack of emissions, low carbon output, and ability to easily site fuel cell plants in populated areas can help address the power generation challenges facing Germany and many other European countries," said Prof. Dr. Alexander Michaelis, Director of Fraunhofer IKTS. "The awards from the Federal Ministry for Economic Affairs and Energy will help expand Germany's existing fuel cell knowledge and assist in advancing the technology towards greater adoption that should support economic development in Germany." "With the support of various government organizations, strategic partners and private industry, product, performance and system enhancements continue on our proprietary fuel cell technology and are now being performed on three continents; validating the global interest in our power and hydrogen generation solutions that enhance the resiliency of power distribution in an ultra-clean and affordable manner," said Chip Bottone, President and Chief Executive Officer of FuelCell Energy, Inc. and Managing Director of FuelCell Energy Solutions GmbH. "We utilize a common global technology platform so enhancements developed under these awards can support global markets, further strengthening the attractiveness of our product offerings."