FuelCell Energy Inc. (FCE, Danbury, CT) announced that it has invested $2 million in Versa Power Systems (Des Plaines, IL) and will be represented on Versa's board. With this equity investment, representing 15.8% of Versa's shares, FuelCell Energy will be in a position to provide greater input in the solid-oxide fuel cell (SOFC) technology developed for the US Department of Energy's (DOE) Solid State Energy Conversion Alliance (SECA) program announced in April 2003.
The DOE selected FuelCell Energy as a prime awardee for the 10-year, $139 million SECA program to develop and accelerate the commercialization of low-cost, SOFC technology. Under FuelCell Energy's SECA program, Versa will lead the FuelCell Energy subcontractor team's development efforts. The SECA program is expected to develop SOFC modules in the 3kW to 10kW size range. The modules can be fitted together for applications in larger sizes. Target markets include remote sites, telecommunications, commercial and residential buildings, as well as backup, mobile standby and auxiliary power units.
