DANBURY, Conn., Aug. 28, 2023 (Globe NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq: FCEL) and ExxonMobil Technologies and Engineering Enterprise (EMTEC) have agreed to extend their ongoing joint improvement agreement by means of March 31, 2024. The extension enables further development linked to production scale-up and get the job done towards advancing the carbonate gas cell technological know-how for issue supply carbon seize purposes versus a broader established of carbon seize alternatives such as reduced carbon depth flue streams. The prolonged advancement perform will also empower continued joint promoting and income efforts as nicely as performance improvement and price optimization.
FuelCell Electricity and EMTEC will keep on to function on finalization of engineering and value things of a possible demonstration of the technology with ExxonMobil a remaining investment decision selection on the demonstration job is expected later this yr.
Jason Number of, CEO and president of FuelCell Strength commented, “We are incredibly happy that our jointly-developed carbon seize technologies has been found to be feasible for the business use we are focusing on and look ahead to operating with ExxonMobil towards a opportunity demonstration undertaking.”
He additional, “The concentrate on methods for industrial enterprises to decrease their emissions proceeds to grow, and we are thrilled about the promise of this technological know-how to seize CO2 emissions from industrial and industrial exhaust streams. We are confident that the carbonate gasoline mobile technological know-how can engage in a vital role as aspect of built-in carbon abatement solutions, which incorporate carbon utilization and sequestration. We are dedicated as a business to assist reduce carbon emissions around the globe.”
Carbonate fuel cells can efficiently capture and concentrate carbon dioxide from exterior resources. CO2-containing flue streams, like combustion exhaust, can be directed to the gas mobile, in which electrochemical reactions make electricity and hydrogen even though capturing and concentrating carbon dioxide for utilization or long-lasting sequestration. The modular design of the technological innovation allows it to be utilised in a amount of apps in a vast selection of places and permits significant efficiency operation when allowing organizations in difficult-to-decarbonize industrial and professional sectors to progress their ambitions.
About FuelCell Electricity
FuelCell Strength, Inc. (NASDAQ: FCEL): FuelCell Electrical power is a global chief in sustainable clean up electricity technologies that deal with some of the world’s most crucial troubles close to energy, security and world urbanization. It collectively holds additional than 450 gasoline mobile technological innovation patents in the United States and globally. As a top world wide manufacturer of proprietary gasoline cell technological know-how platforms, FuelCell Strength is uniquely positioned to serve clients around the world with sustainable solutions and methods for companies, utilities, governments and municipalities. The Company’s methods are intended to help a globe empowered by clear electricity, improving the excellent of lifestyle for people all around the globe.
Cautionary Notice With regards to Ahead-On the lookout Statements
This launch consists of ahead-wanting statements in the which means of the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995 with regards to future situations or the Company’s upcoming efficiency that involve specified contingencies and uncertainties. The forward-on the lookout statements incorporate, with out limitation, the Company’s options and expectations concerning the continuing improvement and commercialization of its carbon capture engineering. These ahead-wanting statements are not ensures of long term effectiveness, and all ahead-hunting statements are subject to hazards and uncertainties that could cause actual success to differ materially from these projected. Things that could result in this kind of a variance involve, without having limitation, the dangers set forth in the Company’s filings with the Securities and Exchange Fee, which includes the Company’s Yearly Report on Form 10-K for the fiscal 12 months finished October 31, 2022. The ahead-wanting statements contained herein discuss only as of the day of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any these kinds of assertion contained herein to replicate any transform in the Company’s anticipations or any change in situations, situations or situations on which any this kind of assertion is primarily based.
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FuelCell Power, Inc.
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203.205.2491
Supply: FuelCell Electrical power
