FuelCell Energy Announces Completion of 2.8 Megawatts of Fuel Cell Kits for Previously Announced 70 Megawatt Order

2.8 Megawatts of Fuel Cell Kits Shipped According to Schedule for First Month of Two Year Contract


DANBURY, Conn., Nov. 9, 2011 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc.
(Nasdaq:FCEL) a leading manufacturer of ultra-clean, efficient and reliable
power plants, today announced the shipment of 2.8 megawatts
(MW) of fuel cell kits during the month of October to South Korean based
partner POSCO Power. The 70 MW order previously announced in May
2011 requires monthly shipments of 2.8 MW beginning in October 2011 and
continuing through October 2013 to fulfill demand in the South Korean
marketplace for ultra-clean, efficient and reliable fuel cell power
generation.

"Execution of the POSCO Power contract is proceeding smoothly with the
initial batch of fuel cell kits shipped according to the contract for the
month of October," said Tony Rauseo, Chief Operating Officer, FuelCell
Energy, Inc. "The 70 megawatt contract was structured with payments due in
the third and fourth quarters of 2011 and subsequent progress payments, and
both parties are meeting the contractual obligations."

"Higher production volume enabled by this 70 megawatt contract is helping us
realize lower cost targets both in manufacturing and with our supply chain,"
continued Mr. Rauseo.

Direct FuelCell (R) (DFC(R)) power plants provide ultra-clean, efficient and
reliable power. DFC plants generate electricity and usable high quality heat
via an electrochemical process. Due to the absence of combustion, DFC plants
emit virtually no pollution. The power generation process is highly
efficient, generating more power from a given unit of fuel than combustion
based power generation alternatives of a similar size class. DFC plants
provide reliable power on-site, lessening reliance on transmission and
distribution while enhancing energy security and power reliability. DFC
power plants are fuel flexible, capable of operating on natural gas or
renewable biogas.

About FuelCell Energy

Direct FuelCell(R) power plants are generating ultra-clean, efficient and
reliable power at more than 50 locations worldwide. With over 180 megawatts
of power generation capacity installed or in backlog, FuelCell Energy is a
global leader in providing ultra-clean baseload distributed generation to
utilities, industrial operations, universities, municipal water treatment
facilities, government installations and other customers around the world.
The Company's power plants have generated over 900 million kWh of power
using a variety of fuels including renewable biogas from wastewater
treatment and food processing, as well as clean natural gas. For more
information please visit our website at www.fuelcellenergy.com

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