This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FuelCell Energy Acquires Remaining Interest In Versa Power Systems, A Solid Oxide Fuel Cell Developer

  • Acquires World-class technology platform and expertise
  • Provides growth opportunities in adjacent markets

DANBURY, Conn., Dec. 20, 2012 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced that it has acquired the remaining shares of Versa Power Systems, Inc. (Versa). Versa is a leading solid oxide fuel cell developer with research facilities in Littleton, Colorado, USA and Calgary, Canada. The addition of solid oxide fuel cell technology strengthens the global leadership position of FuelCell Energy. Prior to this action, FuelCell Energy, Inc. owned approximately 39 percent of Versa. 

"We view solid oxide fuel cell technology as complementary to our carbonate fuel cell product line as we target megawatt and multi-megawatt applications with our Direct FuelCell® power plants and are attracted to solid oxide for future sub-megawatt power generation and storage applications," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. "We will continue to develop the Versa technology under the existing U.S. Department of Energy SECA program and are in advanced discussions with multiple partners for collaboration in commercializing the technology."

Mr. Bottone continued, "By acquiring Versa, we can leverage our current infrastructure, expertise, and experience to accelerate the commercialization of this solid oxide fuel cell technology to expand our market opportunities."

"The Versa fuel cell technology has been termed world class by a number of independent experts based on the high power density, high efficiency, and level of scale attained in the size of the fuel cell stacks achieved to date, which drives the power generation capabilities," said Tony Leo, Vice President Application Engineering & Advanced Technology Development, FuelCell Energy, Inc. "Using the Versa technology and our expertise with fuel cell stacking and balance of plant, we are currently testing a 60 kilowatt solid oxide fuel cell stack that has exhibited performance providing approximately 60 percent electrical efficiency in a power plant system, and still provide usable exhaust heat for combined heat and power applications. This is an unprecedented performance potential."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs