FuelCell Energy

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FuelCell Energy, Inc.
Type Public
Founded 1969
Headquarters Danbury, Connecticut
Key people Chip Bottone
Revenue $187.66 million (As of 2013)[1]
Website http://www.fuelcellenergy.com

FuelCell Energy, Inc. (NASDAQFCEL) is a global fuel cell power company. It develops and operates cell fuel power plants, Direct FuelCell power plants, to electrochemically produce electricity and heat from a range of basic fuel materials including natural gas and coal, etc. As the biggest publicly traded fuel cell manufacturer in the U.S.,[2] the company operates about 50 plants all over the world.[3] Besides, it operates the world’s largest fuel cell park, Gyeonggi Green Energy Fuel cell park, which is located in South Korea. The park consists of 21 power plants with 14.9 Megawatt with providing electricity to a number of customers in South Korea.[4] The company has two markets including ultra-clean power, based on clean natural gas, and renewable power operating on renewable biogas.[5] Its customer base covers a wide range of commercial and industrial enterprises worldwide including utility companies, municipalities, universities, etc. [6]

History[edit]

In 1969, the company was founded as Energy Research Corporation (ERC) by early fuel cell pioneers Bernard Baker and Martin Klein, who are both chemical engineers with professional knowledge in advanced battery technologies. From 1970s to 1990s, having sponsorship from U.S. military and other utility companies, the company extended to low-temperature fuel cell area and high-temperature carbonate fuel systems, which proved to be more potential in commercial applications. It completed its IPO in 1992 and was renamed as FuelCell Energy, Inc. & spins off battery division, Evercel in 1999. FuelCell Energy began expanding globally in 2007 through its partnership with POSCO Energy, targeting markets in Southeast Asia, particularly South Korea. In 2012, the company’s European facility was established with German-based FuelCell Energy Solutions, GmbH.[7] In the same year, it completed joint venture with Fraunhofer IKTS and acquired Versa Power Systems, Inc.[8]

References[edit]

Notes
  1. ^ "FCEL Key Statistics | FuelCell Energy, Inc Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-02-25. 
  2. ^ "FuelCell Energy Eyes the Grid Support Market". Greentechmedia.com. 2013-09-23. Retrieved 2014-02-25. 
  3. ^ "FCEL: Summary for FuelCell Energy, Inc.- Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-02-25. 
  4. ^ "World's Largest Fuel Cell Park Completed in South Korea". Finance.yahoo.com. 2014-01-19. Retrieved 2014-02-25. 
  5. ^ "FuelCell Energy, reuters.com". Reuters.com. Retrieved 2014-02-25. 
  6. ^ "FCEL Stock Quote - FuelCell Energy Inc. Stock Price Today (FCEL ...". Marketwatch.com. Retrieved 2014-02-25. 
  7. ^ "Brief History Company Website". Fuelcellenrgy.com. Retrieved 2014-02-25. 
  8. ^ "FuelCell Energy Inc: NASDAQ:FCEL quotes & news - Google Finance". Google.com. Retrieved 2014-02-25. 

External links[edit]