Macy's, Inc. (NYSE:M) and Bloom Energy today announced that an innovative and clean electricity generation system has been installed at Macy’s online fulfillment center in Cheshire, CT. The Bloom Energy Servers use an advanced solid oxide fuel cell technology to produce electricity on-site.
In addition to providing base load 24x7 power to the facility, the Bloom Energy Servers are equipped with an uninterruptible power module which provides business continuity during grid outages. In 2011, businesses in Connecticut experienced approximately 140 hours of outages 1 (excluding major storms). The 600 kW Bloom Energy installation will provide an estimated five million kilowatt hours of reliable electricity each year and backup generation for future grid events. The Clean Energy Finance and Investment Authority of Connecticut (CEFIA) helped provide funding for the project.
“Congratulations to Macy’s and Bloom Energy. The installation of this fuel cell further supports Connecticut’s efforts to provide businesses and citizens the opportunity for cleaner, cheaper and more reliable energy,” stated Bryan Garcia, President, CEFIA. “Reducing energy costs will allow businesses throughout Connecticut to expand their operations.”
“Macy’s has made significant progress over the past five years in making our company more efficient, less wasteful and greener, which is important to our customers, associates, shareholders and communities. The more we do, the more we learn about the opportunities for future progress. For the needs of our company’s facility at Cheshire – and the realities of the marketplace – we believe a Bloom Energy Server is the cleanest, most efficient and reliable option available,” said Macy’s, Inc. Executive Vice President Amy Hanson.“This Macy’s project is one of our first business continuity projects in the northeast, an area hard hit by grid outage events over the last few years,” Bill Thayer, executive vice president of Sales at Bloom Energy. “The Bloom solution will help meet Macy’s corporate sustainability goals as well as provide reliable power to keep critical business operations and the facility up and running during disruptive events.”
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