SOUTH WINDSOR, Conn., Nov. 27, 2012 /PRNewswire/ -- UTC Power, a United Technologies Corp. (NYSE:UTX) company, today announced that Samsung Everland has purchased seven PureCell® Model 400 fuel cell systems to be installed at the Korean South East Power Co. Ltd. (KOSEP), a public utility company in the greater Seoul area. The fuel cells, which will be located at KOSEP's Bundang facility in the Gyeonggi province, will provide 3.08MW of clean electricity to the local grid and thermal energy to the district heating business. The project is expected to be operational in spring 2013.
"Samsung Everland has once again proven to be a valuable partner in Korea," said Joe Triompo, Vice President and General Manager of UTC Power. "This project is a testament to both our partnership and the PureCell system's proven performance and reliability. South Korea's progressive environmental standards can be easily met by these highly efficient PureCell systems and we're pleased to be a part of the country's green energy infrastructure."
The PureCell system is a proven solution to today's energy challenges and is already in use by utilities in South Korea. Generating power and heat, the PureCell system is driving return on investment, lowering energy costs, increasing energy security and reducing emissions for customers around the globe. The seven PureCell systems to be installed by KOSEP will help to meet the growing demand for electricity in the Seoul metropolitan area, while also helping to meet South Korea's clean energy goals as part of the country's Renewable Portfolio Standard (RPS).
In addition to providing power to help meet RPS, the PureCell systems will be supported locally by UTC Power's Korean subsidiary, UTC Power International Services - Korea, a Seoul-based fuel cell services company with dedicated PureCell system technicians."We are excited about our teaming with Samsung Everland to provide a growth engine for KOSEP's environmental leadership initiatives and develop a local workforce to help our customers achieve their goals," said Eric Strayer, General Manager of International Sales at UTC Power. "As our capacity grows, so does our capability to create a vibrant clean energy workforce in Korea." The PureCell system is a long-term energy solution with a 10-year stack life and total expected efficiencies more than double those of traditional power generation sources. With its efficient design, sustainable operation, and world-class 96 percent fleet availability, the PureCell system is the recommended choice for facilities with baseload power requirements, like KOSEP's Bundang facility. This range of benefits is unique to the PureCell system and is unmatched in the fuel cell industry.
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