FuelCell Energy, Inc. (Nasdaq:FCEL) a leading manufacturer of ultra-clean, efficient and reliable fuel cell power plants, has announced the signing of a multi-year service agreement with Southern California Edison (SCE) to operate and maintain a 1.4 MW Direct FuelCell(R)on-site power plant.
FuelCell Energy will operate and maintain the power plant, which is located at California State University -- San Bernardino.
SCE will sell the ultra-clean electricity produced by the fuel cell power plant to the University under a power purchase agreement and will also provide the high-grade heat generated by the fuel cell to the University.
The utility benefits with ultra-clean power generation that supports clean air initiatives, highly efficient power generation that reduces fuel costs, and on-site power generation, representing incremental capacity that reduces the need to invest in transmission and distribution.
The ultra-clean power generation supports sustainability goals for the University as well as reducing fuel costs due to reduced usage of a boiler for heating. The fuel cell power plant releases virtually zero pollutants and the high efficiency of the power generation process reduces carbon emissions.
The ability of the fuel cell to generate both power and heat from the same unit of fuel lessens the University's usage of a combustion-based boiler for heat, further reducing emissions.
"The fuel cell power plant service agreements that we offer allows our customers to focus on what they do best while we concentrate on our core expertise of delivering ultra-clean power in an efficient and reliable manner," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. "Service is a key aspect of our business model as we operate and maintain virtually every Direct FuelCell power plant installation, around the clock."
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