Ford to Turn Paint Solvent Into Green Energy
300 Kilowatt Direct FuelCell Unit Will Operate On Paint Fumes That Were Previously Vented Into the Atmosphere. (DANBURY, Conn.) FuelCell Energy, Inc. (Nasdaq:[[FCEL]]), a leading manufacturer of ultra-clean power plants using a variety of fuels for commercial, industrial and utility customers, today announced that Ford Motor Co. (NYSE:[[F]]) will purchase a DFC300MA(tm) fuel cell for its Oakville, Ontario, facility to reduce paint solvent emanating from automotive painting operations by turning fumes from those compounds into 300 kilowatts (kW) of green electricity.
The Direct FuelCell(r) (DFC(r)) unit can transform into fuel the Volatile Organic Compounds (VOCs) that emanate from enamel base paints and clear coat finishes used in manufacturing.
The DFC power plant is being funded by Industry Canada, and the Ontario Ministry of Economic Development and Trade to assist in deploying alternative energy sources. The unit deployment in Oakville will be supported through the combined efforts of FuelCell Energy and its distribution partner, Enbridge, Inc. (NYSE:[[ENB]]). Installation and integration of the power plant with Ford’s manufacturing facility will be managed by Arencibia Associates of Coopersburg, PA.
“By using the end-products of enamel and clear coat operations, we are eliminating the exhaust of thousands of tons of nitrous and sulfur oxides as well as CO2 — a major greenhouse gas,” said Andrew Skok, Executive Director, Strategic Marketing for FuelCell Energy. “As this application shows, the fuel flexibility of our DFC300MA opens up an entirely new, very large market for us.”
The DFC300MA unit is expected to be started up early in 2008 and over time, Ford and Detroit Edison, which jointly own the rights to the paint fume clean up and separation technology, could roll the system out to Ford’s other plants, or license it to other manufacturers whose operations include similar uses of paint compounds.
About FuelCell Energy, Inc.
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy’s ultra-clean and high efficiency DFC(r) fuel cells are generating power at over 50 locations worldwide. The company’s power plants have generated more than 180 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers, trading companies and power companies around the world. The company also receives substantial funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as hybrid fuel cell/turbine generators and solid oxide fuel cells. For more information please visit our website at www.fuelcellenergy.com.
About Ford Motor Co.
Ford Motor Company (NYSE:[[F]]), a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With about 260,000 employees and about 100 plants worldwide, the company’s core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit http://www.fordvehicles.com.
This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the continuing development and commercialization of its fuel cell technology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that commercial field trials of the Company’s products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE: FuelCell Energy, Inc.
FuelCell Energy, Inc.
Lisa Lettieri
203-830-7494
ir@fce.com
