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TheStreet Open House

PureCell® Systems To Generate Clean, Sustainable Power For The Lotte World Tower In Seoul

Stocks in this article: UTX

SOUTH WINDSOR, Conn., Jan. 10, 2013 /PRNewswire/ -- UTC Power, a United Technologies Corp. (NYSE:UTX) company, today announced that Samsung Everland has purchased two PureCell® Model 400 fuel cell systems to be installed at the Lotte World Tower, Korea's first super-tall skyscraper.  The fuel cells will be installed in the basement of the tower and will provide 800 kW of clean, efficient power to the Lotte World Mall in the building.  Upon completion in 2015, the Lotte World Tower is expected to become one of the tallest skyscrapers in the world and will house the tallest observation deck on its 123rd-floor at 497.6 meters high. The mixed-use building will include retail outlets, offices, residences, a luxury hotel and public access floors, including the aforementioned observation deck.

"UTC Power is very proud to partner with Samsung Everland on this exciting building project," said Joe Triompo, vice president and general manager of UTC Power. "The PureCell system's proven performance and reliability make it the ideal fit to provide the Lotte World Tower with clean fuel cell power. We are thrilled to be a part of the tower's green energy infrastructure."

The PureCell system is a proven solution to today's energy challenges and is already in use by Korean utilities. This installation is UTC Power's first building application in the country and the first indoor installation for a fuel cell in Korea.  Generating power and heat, the PureCell system is driving lower energy costs, increasing energy security and reducing emissions for customers around the globe.  The PureCell systems to be installed in the Lotte World Tower will help to meet South Korea's clean energy goals as part of the country's Renewable Portfolio Standard (RPS). 

"With the prolonged effects of high oil prices and heightened environmental regulations worldwide, more businesses are in need of clean energy alternatives, like the PureCell system, to meet their operational needs" said Samsung Everland Energy Business E&A Division. "Through our partnership with UTC Power, Samsung Everland continues to provide valuable solutions to energy issues for our clients across Korea."

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