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FuelCell Energy Announces Operation Of World's Largest Carbon Neutral Fuel Cell Power Plant

DANBURY, Conn., Oct. 16, 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 the dedication and operation of a 2.8 megawatt DFC3000® stationary fuel cell power plant installation at a municipal water treatment facility in California that utilizes renewable biogas as a fuel source. FuelCell Energy, Inc. previously announced the sale of the power plant to Anaergia, Inc., a project developer and investor. Anaergia is selling the electricity and heat to Inland Empire Utilities Agency (IEUA) under a twenty year power purchase agreement. The power plant is an integral and unique on-site fuel cell application to convert biogas, a harmful greenhouse gas, into electricity and usable high quality heat in a carbon-neutral fashion that emits virtually no pollutants.

A dedication event for the fuel cell power plant was held on October 12 at the IEUA facility. IEUA is one of the largest wastewater treatment operators in California and is a leader in adopting sustainability initiatives as it transitions to grid-independence by the year 2020.

"This stationary fuel cell project that uses a renewable fuel source to generate clean power is helping the State of California reach our aggressive renewable portfolio standards," said Michael Peevey, President, California Public Utilities Commission. "This project illustrates how public/private partnerships are a great model for providing public benefits with private capital."

"We have adopted the goal of becoming energy self-sufficient by the year 2020 in a manner that meets our aggressive sustainability goals and with competitive economics," said Thomas Love, General Manager, Inland Empire Utilities Agency. "This fuel cell project, combined with our existing solar and wind installations, is helping us achieve these goals."

Reliable on-site power generation from fuel cells combined with the credit profile of municipalities attracts private capital to fuel cell projects. Anaergia partially funded the purchase of the fuel cell power plant located at IEUA through the issuance of California Municipal Finance Authority Revenue Bonds.

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