DANBURY, Conn., Oct. 3, 2012 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL) a global leader in the design, manufacture and service of ultra-clean, efficient and reliable fuel cell power plants, today announced a $6.0 million cost share award from the U.S. Department of Energy (DOE) to continue existing research and development under phase III of the Solid State Energy Conversion Alliance (SECA) coal-based systems program. The SECA program is a collaboration between the Federal Government, private industry, and academia to develop megawatt-class solid oxide fuel cell (SOFC) power plants to efficiently and cleanly generate electricity from coal syngas. High efficiency power generation from coal syngas advances the nation's energy security while reducing greenhouse gas emissions. As the program progresses to long term operation with coal syngas, near term applications using natural gas in combined heat and power applications is also a focus. The term of the award is 12 months and under the SECA program's cost share parameters, the DOE will fund 70 percent of the total award amount or $4.2 million.
FuelCell Energy Team Awarded $6.0 Million Contract To Continue Development Of Stationary Solid Oxide Fuel Cell Power Plants
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.