Sep 18 2004
FuelCell Energy, Inc. announced today that it has finalized its award with the U.S. Department of Energy (DOE) for the three-year first phase of its Solid State Energy Conversion Alliance (SECA) program. Phase one is a $24 million Cooperative Agreement cost-shared by the DOE and the FuelCell Energy team, which includes Versa Power Systems, Materials and Systems Research Inc., Gas Technology Institute, University of Utah, Electric Power Research Institute, Dana Corporation and Pacific Northwest National Laboratory. Finalizing the award resolves open budget, scope and schedule issues.
"During these negotiations, we have refined our solid oxide fuel cell technology development efforts to increase our team's efficiency and coordination with the DOE," said Dr. Hansraj C. Maru, FuelCell Energy's Chief Technology Officer. "Clearly defining the roles for FuelCell Energy and its team strengthens our efforts in achieving our objectives in the SECA program."
The goal of the SECA program is to accelerate the development of low-cost solid oxide fuel cells (SOFC), a key element of DOE's commitment to developing clean, efficient, reliable and affordable power generation for virtually all markets. This program is expected to develop SOFC modules in the 3-kilowatt (kW) to 10-kW size range that can be fitted together for combined heat and power products for initial applications up to 100 kW. Target markets identified include remote sites, telecommunications, commercial and residential buildings, back-up, mobile standby and auxiliary power units.
In April 2003, FuelCell Energy was selected by the DOE to lead a project team for its three phase, ten-year, $139 million SECA program. The FuelCell Energy team started work on the Phase one SECA program in July 2003 via a pre-award authorization from the DOE. FuelCell Energy received a provisional SECA award from the DOE in February 2004, which enabled the team to increase the effort level consistent with the program scope of work.
To strengthen its SOFC commercialization capabilities, the Company made two strategic investments in SOFC technology: an investment in Versa Power Systems (August 2003) and the acquisition of Global Thermoelectric Inc. (November 2003). If successfully commercialized, these products would be complementary to FuelCell Energy's larger scale Direct FuelCell(R) (DFC(R)) product line.
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