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FuelCell Energy Applauds Creation Of Fraunhofer Center For Energy Innovation At University Of Connecticut

Stocks in this article: FCEL

DANBURY, Conn., Aug. 1, 2013 (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, commends the creation of the Fraunhofer Center for Energy Innovation (CEI) at the University of Connecticut, which was recently announced by Fraunhofer USA Inc., the State of Connecticut and the University. Fraunhofer CEI will focus on research, development and commercialization of highly efficient and cost effective energy conversion systems.

"The Fraunhofer relationship with Connecticut-based FuelCell Energy was instrumental in establishing the recently announced Fraunhofer Center for Energy Innovation at the University of Connecticut," said Prof. Dr. Alexander Michaelis, director, Fraunhofer IKTS. "We are working closely with our joint venture partner FuelCell Energy through one of our German institutes, and we will be closely coordinating with this new institute at the University of Connecticut for our fuel cell research."

FuelCell Energy, Inc. (FCE) and Fraunhofer IKTS are partners in a German-based joint venture that is expanding the market in Europe for highly efficient and environmentally friendly stationary fuel cell power plants. The joint venture, FuelCell Energy Solutions, GmbH (FCES), with manufacturing in Ottobrun, Germany and headquarters in Dresden Germany, has customers in multiple European countries. FuelCell Energy is contributing technology and market development resources to the joint venture and Fraunhofer IKTS is contributing applied fuel cell research expertise and supporting market development.

"The Fraunhofer organization provides world-renowned applied research capabilities and we are pleased to see increasing emphasis on fuel cell research by Fraunhofer IKTS, now in both Germany and the USA," said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. "Our relationship with Fraunhofer IKTS enables us to leverage our internal research and development resources as well as gain further market recognition."

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