Caterpillar and FuelCell Energy Announce Agreement

November 15, 2001 by Jeff Shepard

Caterpillar Inc. (Peoria, IL) and FuelCell Energy Inc. (Danbury, CT) have formalized and expanded their agreement to distribute and develop ultra-low emission Direct FuelCell (DFC) power generation products for industrial and commercial use. The 10-year alliance agreement calls for the companies to jointly develop Caterpillar-branded power plants in the 250kW to 3MW size range, incorporating FuelCell Energy's fuel cell module. The companies will also explore the development of a hybrid power system utilizing Caterpillar's turbine engine technology and FuelCell Energy's products.

"The alliance between Caterpillar and FuelCell Energy marks another significant milestone in Caterpillar's growth strategy to invest in socially responsible energy solutions. We're pleased with the expansion of our product line, adding FuelCell Energy systems as an additional clean power solution," said Caterpillar Vice President Jim Parker.

"Caterpillar's confidence in our technology further validates the inherent value of fuel cells as an important power generation solution," said FuelCell Energy President and CEO Jerry Leitman. "This alliance further advances our strategy to work with the power industry's best companies to develop and deliver DFC power plants to customers."