FuelCell Energy is a global leader in the design, manufacture, operation, and servicing of ultra-clean, efficient, and reliable fuel cell power plants. Its power plants are generating power at more than 50 locations worldwide. The company has in excess of 300 megawatts of power generation capacity installed or in backlog.
The company’s stationary fuel cell power plants provide continuous on-site power and electrical grid support in a highly efficient electrochemical process that is nearly absent of pollutants. FuelCell Energy’s power plants are also fuel flexible. They are capable of running on natural gas, renewable biogas, or directed biogas.
Fuel Cell Energy today provided an update on its previously announced plans to ramp up to a 70 megawatt annual run-rate for its environmentally-friendly stationary fuel cell power plants. As a result of the execution of the business plan, the company expects to report revenues for its second fiscal quarter ended April 30, 2013, in the range of $38 to $40 million. This will be quite a jump up from revenues of the year-ago period, which were $24.2 million.
The company’s president and CEO, Chip Bottone, said, “We are pleased with the progress in ramping our production rate by 25% and expect to be at a 70 megawatt annualized run-rate by May 1, 2013. The ramp of the business is directly related to demand in Connecticut . . . as well as overseas demand and a strong project pipeline.” The company is hiring more employees for its Connecticut facilities.
For additional information about FuelCell Energy and its fuel cell power plants, please visit www.fuelcellenergy.com
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