FuelCell Energy Receives Commitment from Marubeni Corp.

June 13, 2000 by Jeff Shepard

FuelCell Energy Inc. (Danbury, CT) received a commitment from the Marubeni Corp. (Tokyo) to procure multiple fuel cell power plants based on the company's Direct FuelCell (DFC) technology. Under the contract, FuelCell Energy will deliver one 250kW DFC power plant in 2001, followed by four 250kW power plants or a MW-class plant. The contract's total value is $6.25 million for 1.25MWs."This is an important step toward the realization of a cleaner, more efficient power generation technology for stationary heat and power applications in markets where Marubeni operates," said Marubeni Power Systems Division Manager Marc Aube. "We envision employing DFC products initially in stationary distributed generation and island applications, thereafter potentially in remote and marine settings.""The agreement builds on the important strategic partnership established between Marubeni and FuelCell Energy in February of this year," said FuelCell Energy President and CEO Jerry Leitman. "It represents the beginning of Marubeni's marketing and distribution program in Japan's very sizable distributed generation marketplace. Marubeni has selected the DFC technology and FuelCell Energy as its strategic partner after an exhaustive assessment of distributed generation options for markets throughout Asia."