FuelCell Energy Applauds Congressman Larson and Senator Blumenthal's Plan to Promote Efficiency and Job Creation With Fuel Cells
Fuel cell technology and energy can create jobs and enhance our state economy as well as free America from dependence on foreign oil
DANBURY, Conn., Aug. 27, 2012 -- FuelCell Energy, Inc.
ultra-clean, efficient and reliable fuel cell power plants, today urged
support for The Fuel Cell and Hydrogen Infrastructure for America Act which
is being introduced by U.S. Congressman John B. Larson and U.S.
Senator Richard Blumenthal. The legislation is designed to accelerate the
adoption of stationary fuel cell power generation and the hydrogen energy
infrastructure while supporting domestic manufacturing and helping the U.S.
fuel cell industry to grow. Congressman Larson and Senator Blumenthal were
accompanied by U.S. Congressman Chris Murphy during a visit to the
Torrington, Connecticut production facility of FuelCell Energy, Inc., where
they announced their intention to introduce this legislation.
"The kind of work being done here at Fuel Cell Energy to provide highly
efficient on-site power generation is exactly the kind of work we should be
seeing more of to help move us to a stronger future," said Congressman
Larson. "I look forward to continuing my work with the delegation to improve
federal incentives for this sustainable, American technology. It's good for
our economy here in Connecticut and for the energy security of the Nation."
"Fuel cell technology and energy can create jobs and enhance our state
economy as well as free America from dependence on foreign oil -- a huge
win-win for everyone," Senator Blumenthal said. "I am proud to introduce
this bill modeled on Congressman Larson's measure, which promises major
benefits to Connecticut companies, helping to make our state the fuel cell
capital of the world."
The Fuel Cell and Hydrogen Infrastructure for America Act (the Act) creates
a tiered investment tax credit (ITC) to reward highly efficient stationary
fuel cell power plants utilizing a combined heat and power
(CHP) configuration. The ITC currently provides a tax credit of 30 percent
for stationary fuel cell power plants with at least 30 percent efficiency.
The Act increases the tax credit to 40 percent for fuel cell power plants
achieving at least 60 percent efficiency and increases the tax credit to 50
percent for fuel cell power plants achieving at least 70 percent efficiency.
Generating both clean electricity and usable heat from the same unit of fuel
enhances efficiency and reduces emissions. Direct FuelCell(R)
(DFC(R)) power plants designed and manufactured by FuelCell Energy, Inc. can
achieve efficiency up to 90 percent in CHP applications.
"We value the support of far-sighted legislators such as Congressman Larson
and Senator Blumenthal to help attract private capital to fund stationary
power plant installations and drive sustainable manufacturing sector job
growth," said Chip Bottone, President and Chief Executive Officer, FuelCell
Energy, Inc. "Our power plants help to address the power generation changes
facing the Nation as our plants provide continuous power at the point of use
in a highly efficient process that emits virtually no pollutants."
In addition to supporting the installation of highly efficient and
environmentally friendly stationary fuel cell power plants, the Act
increases the tax credit for hydrogen refueling properties from 30 percent
to 50 percent and expands eligibility to include hydrogen refueling
properties for fuel cell powered material handling equipment.
Fuel cells electrochemically convert a fuel source into electricity and heat
in a highly efficient process that emits virtually no pollutants due to the
absence of combustion. DFC power plants are fuel flexible, capable of
operating on natural gas or renewable biogas. DFC plants provide continuous
baseload power and can be sited where the power is used, including both
on-site applications and electric grid support.
The combination of near-zero pollutants, modest land-use needs, and quiet
operating nature of DFC plants facilitates their siting in urban locations.
About FuelCell Energy
Direct FuelCell(R) power plants are generating ultra-clean, efficient and
reliable power at more than 50 locations worldwide. With approximately 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 more than one
billion kilowatt hours of ultra-clean 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
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