FuelCell Energy Inc. (FCEL)
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STOCKS TO WATCH
FuelCell, Dell, Andersons, Imax
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy MarketWatch
Last Update: 11:03 AM ET Dec 16, 2006
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Monday's session are FuelCell Energy Inc.,
FuelCell. (FCEL : FCEL is expected to post a per-share loss of 35 cents for the fourth quarter
FuelCell, Dell, Andersons, Imax
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy MarketWatch
Last Update: 11:03 AM ET Dec 16, 2006
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Monday's session are FuelCell Energy Inc.,
FuelCell. (FCEL : FCEL is expected to post a per-share loss of 35 cents for the fourth quarter
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FuelCell Energy Board of Directors Names President and Chief Executive Officer R. Daniel Brdar to the Additional Post of Chairman
Thursday January 11, 6:57 pm ET
John Rolls Appointed Lead Independent Director
DANBURY, Conn.--(BUSINESS WIRE)--FuelCell Energy, Inc. (NasdaqNM:FCEL - News) announced that its Board of Directors elected President and Chief Executive Officer R. Daniel Brdar to the additional post of Chairman, effective January 12, 2007. As Chairman, he succeeds Jerry D. Leitman, who will step down from the Board and his role as strategic advisor as part of this transition.
The Board also established the role of Lead Independent Director and appointed John Rolls to the position. Mr. Rolls has been a member of the Board since 2000 and is the CEO of Thermion Systems International. Mr. Rolls was previously President and Chief Executive Officer of Deutsche Bank North America, Executive Vice President and Chief Financial Officer for United Technologies Corp and Senior Vice President and Chief Financial Officer of RCA Corporation.
"I am pleased that Dan will be assuming the role of Chairman, representing the continuation of our executive succession planning. Dan's strong leadership, execution, and energy make him the right leader for the company and its talented employees," said Mr. Leitman.
"Our decision to elect Dan Chairman reflects the Board's confidence in his leadership and strategic vision for the Company. I am pleased to accept the role of Lead Independent Director, which underscores the Company's continued commitments to good corporate governance," said Mr. Rolls.
"I would like to thank Jerry for his achievements during the last ten years and for his support. I appreciate this opportunity to lead a great company offering innovative products at a time of greater global demand for alternative energy solutions, and I look forward to delivering increasing value to FuelCell's customers and shareholders,"
FuelCell Energy Board of Directors Names President and Chief Executive Officer R. Daniel Brdar to the Additional Post of Chairman
Thursday January 11, 6:57 pm ET
John Rolls Appointed Lead Independent Director
DANBURY, Conn.--(BUSINESS WIRE)--FuelCell Energy, Inc. (NasdaqNM:FCEL - News) announced that its Board of Directors elected President and Chief Executive Officer R. Daniel Brdar to the additional post of Chairman, effective January 12, 2007. As Chairman, he succeeds Jerry D. Leitman, who will step down from the Board and his role as strategic advisor as part of this transition.
The Board also established the role of Lead Independent Director and appointed John Rolls to the position. Mr. Rolls has been a member of the Board since 2000 and is the CEO of Thermion Systems International. Mr. Rolls was previously President and Chief Executive Officer of Deutsche Bank North America, Executive Vice President and Chief Financial Officer for United Technologies Corp and Senior Vice President and Chief Financial Officer of RCA Corporation.
"I am pleased that Dan will be assuming the role of Chairman, representing the continuation of our executive succession planning. Dan's strong leadership, execution, and energy make him the right leader for the company and its talented employees," said Mr. Leitman.
"Our decision to elect Dan Chairman reflects the Board's confidence in his leadership and strategic vision for the Company. I am pleased to accept the role of Lead Independent Director, which underscores the Company's continued commitments to good corporate governance," said Mr. Rolls.
"I would like to thank Jerry for his achievements during the last ten years and for his support. I appreciate this opportunity to lead a great company offering innovative products at a time of greater global demand for alternative energy solutions, and I look forward to delivering increasing value to FuelCell's customers and shareholders,"
Extension of Federal Investment Tax Credit Provides Additional Funding to FuelCell Energy Customers through 2008
Program enables end users to obtain clean energy economically
Last Update: 8:51 AM ET Jan 26, 2007
DANBURY, Conn., Jan 26, 2007 (BUSINESS WIRE) -- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of ultra-clean electric power generation plants for commercial and industrial customers, today announced that the federal government's recent extension of the Income Tax Credit (ITC) for fuel cells will continue to provide additional incentives for its ultra-clean power plant products through the end of 2008.
Enacted as part of the U.S. Energy Policy Act of 2005, the ITC established a range of incentives for 'green' electricity produced by non-traditional means. The company's low-emission fuel cell power plants qualify because they run on renewable fuels (such as gas produced by breweries and other anaerobic digester processes) and other readily available fuel sources (like natural gas). The ITC, originally due to expire at the end of 2007, has been extended to Dec. 31, 2008.
The ITC helps end users produce clean energy by subsidizing the purchase of fuel cell power plants up to $1,000 per kilowatt of electricity generated, to a maximum of 30 percent of the net investment cost. It also allows plant owners to depreciate the equipment over five years. By enhancing project economics, these incentives also enable project financing of fuel cell transactions.
"The tax credit's availability for an additional year clearly demonstrates the federal government's ongoing commitment to advancing ultra-clean fuel cell products," said Bruce Ludemann, Senior Vice President of Sales and Marketing for FuelCell Energy. "The program helped many of our private-sector customers purchase our DFC products in calendar 2006 and now it will continue to benefit new customers in the upcoming two years."
Recently, new legislation was introduced in the U.S. House of Representatives, HR 550, to extend the ITC through 2016 and a similar bill is expected to be presented in the Senate shortly.
"We strongly support the further extension and possible enhancement of the ITC credit for fuel cells," Mr. Ludemann said. "Not only does the credit help our business, but it also helps relieve our country's dependence on foreign oil while giving us all cleaner air."
The company's Direct FuelCell(R) (DFC(R)) power plants provide the highest electrical efficiency - up to 47 percent -- of any baseload, 24/7 power-generating source in their size range. Because they don't burn fuel but instead convert it electrochemically into hydrogen, water and electricity, they also have an ultra-clean emissions profile. When the thermal output is combined with the power generated for "combined heat and power" applications, DFC power plants can achieve even higher overall energy efficiencies of 70 to 80 percent.
Program enables end users to obtain clean energy economically
Last Update: 8:51 AM ET Jan 26, 2007
DANBURY, Conn., Jan 26, 2007 (BUSINESS WIRE) -- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of ultra-clean electric power generation plants for commercial and industrial customers, today announced that the federal government's recent extension of the Income Tax Credit (ITC) for fuel cells will continue to provide additional incentives for its ultra-clean power plant products through the end of 2008.
Enacted as part of the U.S. Energy Policy Act of 2005, the ITC established a range of incentives for 'green' electricity produced by non-traditional means. The company's low-emission fuel cell power plants qualify because they run on renewable fuels (such as gas produced by breweries and other anaerobic digester processes) and other readily available fuel sources (like natural gas). The ITC, originally due to expire at the end of 2007, has been extended to Dec. 31, 2008.
The ITC helps end users produce clean energy by subsidizing the purchase of fuel cell power plants up to $1,000 per kilowatt of electricity generated, to a maximum of 30 percent of the net investment cost. It also allows plant owners to depreciate the equipment over five years. By enhancing project economics, these incentives also enable project financing of fuel cell transactions.
"The tax credit's availability for an additional year clearly demonstrates the federal government's ongoing commitment to advancing ultra-clean fuel cell products," said Bruce Ludemann, Senior Vice President of Sales and Marketing for FuelCell Energy. "The program helped many of our private-sector customers purchase our DFC products in calendar 2006 and now it will continue to benefit new customers in the upcoming two years."
Recently, new legislation was introduced in the U.S. House of Representatives, HR 550, to extend the ITC through 2016 and a similar bill is expected to be presented in the Senate shortly.
"We strongly support the further extension and possible enhancement of the ITC credit for fuel cells," Mr. Ludemann said. "Not only does the credit help our business, but it also helps relieve our country's dependence on foreign oil while giving us all cleaner air."
The company's Direct FuelCell(R) (DFC(R)) power plants provide the highest electrical efficiency - up to 47 percent -- of any baseload, 24/7 power-generating source in their size range. Because they don't burn fuel but instead convert it electrochemically into hydrogen, water and electricity, they also have an ultra-clean emissions profile. When the thermal output is combined with the power generated for "combined heat and power" applications, DFC power plants can achieve even higher overall energy efficiencies of 70 to 80 percent.
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German distributor taps FuelCell Energy for stack components
By BOB CHUVALA
FuelCell Energy Inc. in Danbury received an order from its European distribution partner for 1.5 megawatts of fuel cell stack components -- “one of our larger orders,” said Lisa Lettieri, vice president of investor relations and corporate communications.
FuelCell Energy will manufacture the stack components at its Torrington plant and deliver them to MTU CFC Solutions GmbH in Germany, which will then construct fuel cells it manufactures for the European market. “Germany is one of the most supportive countries of alternative energy in the world,” Lettieri said. “All of Europe is moving in that direction.”
The German company has been the co-developer of FuelCell Energy’s technology since 1989, designing more than a dozen fuel cell power plants specific to the European market using FuelCell components. The fuel cells provide electricity, heating and cooling at hospitals, telecommunication hubs and manufacturing plants in Germany.
The 1.5-MW order will be delivered in the current fiscal year, Lettieri said. Last year the company produced fuel cell power plants totaling five megawatts, so “this is a pretty good-sized order,” she said.
Last month FuelCell Energy announced a marketing and distribution agreement with The Linde Group in Wiesbaden, Germany, for nonexclusive rights to sell and market FuelCell’s power plants worldwide. The agreement should help FuelCell extend its market in this country, Lettieri said. The company’s major markets are California, Connecticut and Asia, she said.
By BOB CHUVALA
FuelCell Energy Inc. in Danbury received an order from its European distribution partner for 1.5 megawatts of fuel cell stack components -- “one of our larger orders,” said Lisa Lettieri, vice president of investor relations and corporate communications.
FuelCell Energy will manufacture the stack components at its Torrington plant and deliver them to MTU CFC Solutions GmbH in Germany, which will then construct fuel cells it manufactures for the European market. “Germany is one of the most supportive countries of alternative energy in the world,” Lettieri said. “All of Europe is moving in that direction.”
The German company has been the co-developer of FuelCell Energy’s technology since 1989, designing more than a dozen fuel cell power plants specific to the European market using FuelCell components. The fuel cells provide electricity, heating and cooling at hospitals, telecommunication hubs and manufacturing plants in Germany.
The 1.5-MW order will be delivered in the current fiscal year, Lettieri said. Last year the company produced fuel cell power plants totaling five megawatts, so “this is a pretty good-sized order,” she said.
Last month FuelCell Energy announced a marketing and distribution agreement with The Linde Group in Wiesbaden, Germany, for nonexclusive rights to sell and market FuelCell’s power plants worldwide. The agreement should help FuelCell extend its market in this country, Lettieri said. The company’s major markets are California, Connecticut and Asia, she said.
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