- New Milford Clean Energy Proposed by Massachusetts CompanyFebruary 3, 2016
A Framingham, Mass., renewable energy company has its eye on 300 acres in New Milford. Ameresco wants to establish a solar array and a fuel-cell facility that would produce electric power to sell on the power grid and directly to the town.
- Sustainable Innovations Featured in 2016 NASA Spinoff for Advanced Hydrogen Separation TechnologyJanuary 28, 2016
Sustainable Innovations’ H2RENEW™ system was recently featured in NASA Spinoff, an annual publication that features a number of NASA technologies that have transformed into commercial products and services. The H2RENEW™ is an electrochemical system that efficiently separates and compresses hydrogen using Proton Exchange Membrane (PEM) technology for many industrial applications, including hydrogen-helium separation, hydrogen compression, and hydrogen recycling.
- FuelCell Soars on Energy Park ApprovalJanuary 19, 2016
DANBURY — Shares of FuelCell Energy rose 16 percent Friday after state officials approved the Beacon Falls Energy Park.
The park, once constructed, will be the largest of its kind in the world, producing more than 63 megawatts of electricity. Under the plan approved unanimously by the Connecticut Siting Council, CT Energy & Technology will develop the project on eight acres owned by O&G in Beacon Falls. FuelCell Energy (Nasdaq: FCEL) will supply and maintain the fuel cells at the park as part of a long-term service agreement.
Executives with Danbury-based FuelCell Energy have said they expect to receive significant revenue from the project but have declined to offer specific estimates for the work. A similar, but much smaller, project in Bridgeport that supplies about 15 megawatts has produced more than $125 million in revenue for the company from sales and service agreements.
The project will also help ensure job growth, executives have said, as FuelCell moves forward with a phased expansion plan that would double its production capacity to about 200 megawatts annually. State officials have offered the company a $10 million loan to help with the $65 million expansion. Up to half of the loan is forgivable if FuelCell hires an additional 325 workers as part of the expansion. The company already has about 500 employees in the region.
FuelCell Energy’s stock surged more than 20 percent during early trading Friday, before closing at around $6.16 per share.
The stock also rallied earlier this week by more than 10 percent after the company announced a deal to supply Pfizer with a 5.6 megawatt power plant that will provide both heat and electricity to the company’s 160-acre campus in Groton. Pfizer will purchase the power and steam under a 20-year agreement.
“This power-purchase model delivers immediate value while increasing electrical reliability by providing the security of on-site power with a financial structure that avoids an investment in power generation assets; and FuelCell Energy installs, operates and maintains the fuel cell power plants,” Chip Bottone, the president and CEO of FuelCell Energy, said in a statement released earlier this week.
The positive news comes on the heels of the company falling short of expectations last month with its reported fourth-quarter loss of 38 cents per share. Most analysts had expected a loss of around 27 cents per share. The company’s revenues for the quarter, however, were mostly in line with expectations, with about $51.5 million reported for the quarter as compared to $47 million for the same period the previous year.
- Proton OnSite M Series PEM Megawatt Electrolyzer Achieves Over 500,000 Cell Hours with Zero FailuresJanuary 13, 2016
Proton OnSite announced that its Megawatt (MW), M Series PEM Hydrogen Generation System achieved over 500,000 cell operating hours with no failures. This highlights Proton OnSite’s 20 years of high-impact innovation and over 1 billion fielded cell hours of PEM technology. The M400, introduced in January 2015, provides a 13x increase in hydrogen production compared to other commercial PEM systems.
- FuelCell Soars on Energy Park ApprovalJanuary 9, 2016
The park, once constructed, will be the largest of its kind in the world, producing more than 63 megawatts of electricity. Under the plan approved unanimously by the Connecticut Siting Council, CT Energy & Technology will develop the project on eight acres owned by O&G in Beacon Falls. FuelCell Energy will supply and maintain the fuel cells at the park as part of a long-term service agreement.
- Tax Credit for Hydrogen Fuel-Cell Vehicles Extended By Budget DealJanuary 6, 2016
A tax credit for fuel-cell vehicles was given a short-term extension through the end of 2016. This is the same credit that expired at the end of 2014, which comprised a base-income tax credit of $4,000 for light-duty fuel-cell vehicles, plus additional credits determined by fuel economy.